Citi to shutter Old Lane

Fri Jun 13, 2008

The hedge fund that Citigroup’s new chief executive, Vikram Pandit, sold to the bank eleven months ago is being shut down amid losses and investor redemptions. So far in 2008, the fund is down 4% and is flat since inception.

Citi paid more than $800 million for Old Lane Partners, which had amassed about $4.5 billion before...

ISSN: 2151-1845 / CDC10004H

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