Tuesday, 4 August 2015
Last updated 17 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…