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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.