Hedge Fund Steps Up Fight Against Premier Oil’s North Sea Deal Spree (Standard.co.uk) A hedge fund ramped up its attack on Premier Oil on Friday, questioning the explorer’s sums on a recently announced acquisition spree. ARCM, a Hong-Kong based fund founded by former Wall Street debt trader Alp Ercil, opposes Premier’s plan to buy a string of North Sea assets from BP and US giant Dana. It has threatened to block the proposal in court. ARCM also has a huge short position in the firm.