Ex-Citi Chief Could Join Protégé's Hedge Fund

Oct 22 2012 | 1:35pm ET

Before he took the reins at Citigroup, Vikram Pandit was—briefly—a hedge fund manager. Now that he's left the bank, however, he's mulling a return engagement with one of his former lieutenants.

Sutesh Sharma, a former money manager at Pandit's Old Lane Partners who founded US$500 million Portman Square Capital in London earlier this year, is eager to add his old boss, the New York Post reports. Pandit is widely seen as a possible fundraising powerhouse in the hedge fund world.

Pandit and Havens abruptly resigned from Citi last week, after a five-year run for the former at the bank's helm. The exits were reportedly due to disagreements with Citi's board over strategy and performance.

The two men arrived at Citi when the bank bought the then-year-old Old Lane for $800 million and quickly installed Pandit as head of its alternative-investments business. But the acquisition was widely seen as a move to make Pandit the heir apparent for the CEO's post, which he duly received at the end of 2007. But the following year, Citi shuttered Old Lane amidst losses.

A Portman Square spokesman told the Post, "we are not commenting on anything to do with Vikram or Citi at the moment."

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…