Vikram Pandit’s dead Citi hedge fund, Old Lane Partners, is back from the grave.
Reincarnated as the private firm Meru Capital, it’s already raised $300 million.
1) Vikram Pandit
2) The head of Citi’s institutional clients group John Havens.
At what point will Mr. Pandit become sick of all the flak he takes at Citi and settle down for a cushy money management job where he can make all the money he wants without politicians breathing down his neck?
At the very least, this surely qualifies as a Pandit Plan B.
FinAlternatives: Citigroup closed Old Lane in September of last year after the hedge fund, which managed $4.5 billion when Citigroup bought it in July 2007 for more than $800 million, posted hundreds of millions in losses and saw all of its outside investors flee.