Hedge funds are growing in Brazil amid political and economic upheaval, N.Y. Times reports. : After more than a decade as an asset manager for large multinational banks, a Brazilian, Márcio Appel, wanted to make it on his own. The political and economic upheaval in his country was not going to deter him. Even on the heels of a new scandal erupting in May that rocked the markets, the hedge fund firm he co-founded here, Adam Capital, started raising money for its newest fund.