Sharma Raises Less Than $100 Million For Hedge Fund

Jul 15 2013 | 9:44am ET

Former Citigroup trader Sutesh Sharma has launched his Portman Square Capital hedge fund with under $100 million—far below his initial target of $500 million.

Sharma scaled back the target in March, reports Bloomberg, citing two people with knowledge of the situation.

Portman Square uses capital structure arbitrage and volatility arbitrage trading to profit from pricing differences between related securities. The fund is up 3.6% since opening in May, according to Bloomberg.

Sharma was the co-founder—with Vikram Pandit—of Old Lane Partners, a hedge fund bought by Citigroup in 2007. Sharma oversaw about $2 billion at Citigroup, which he left in 2011.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Hedge Fund Billionaires Prepare Their Bunkers

Jan 27 2015 | 8:57am ET

If income equality ever leads to insurrection, the world's wealthiest hedge fund...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note