Former Citigroup President Thomas Maheras, the architect of the bank’s disastrous subprime exposure, has launched a hedge fund.

Maheras’s Tagean Fund is up 84% this year, CNBC’s Charles Gasparino reports. Maheras is not the new hedge fund’s only ties to Citi: The troubled Wall Street giant serves as Tagean’s prime broker, and the firm’s former chairman, Sandy Weill, is among its biggest investors.

Despite his difficulties as Citi, Maheras has even managed to recruit a big institutional investor in the form of his alma mater, the University of Notre Dame. The year-old fund has grown from about $75 million to about $150 million.

Gasparino reports that Maheras, a former bond trader, is trading both fixed-income and equities at Tagean. And among his biggest winning bets so far? Citigroup.