Citigroup’s Pandit Buys ‘Odd’ Co-op

Sep 26 2007 | 7:38am ET

At the office in his new job, the going is tough. So Vikram Pandit is spending a small fortune on a not-so-small refuge.

Pandit, the new head of Citi Alternative Investments, has paid $17.9 million for the New York apartment once owned by the actor Tony Randall, famous for his role as Felix Unger in The Odd Couple. The 10-room co-op occupies an entire floor of the famed Beresford apartment building on Central Park West.

“This extraordinary 10-room residence offers outstanding entertainment rooms of grand proportions with magnificent detail,” according to a listing by real estate brokerage The Corcoran Group. “The residence enjoys superb light and impressive park views through 20 windows spanning two exposures.”

Pandit joined Citigroup this year after selling it his Old Lane hedge fund for some $800 million. But it has not been smooth sailing for Pandit at his new job: He was greeted by a nearly 40% drop in CAI profit, and Old Lane, recently enshrined as Citi’s flagship hedge fund, dropped 5.9% in August.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note