The buzz on Wall Street is that Vikram Pandit will return to the hedge fund world.
UK hedge fund Portman Square Capital declined to comment on chatter that its founder, Sutesh Sharma, is eager to nab Pandit for his new firm.
Sharma, a former money manager at Pandit’s now defunct Old Lane hedge fund, launched Portman this year with $500 million.
Pandit’s hedge fund stint is the stuff of legend. A year after he launched Old Lane in 2006, he sold it to Citi for a cool $800 million, netting him $165 million.
By the end of 2007, despite flat returns for the $4 billion fund, Pandit was crowned Citi’s new chief. But redemptions forced Citi to shutter Old Lane a few months later, resulting in a loss of $202 million. Still Vikram Pandit is viewed by the hedge fund community as a rainmaker due to his ties to deep-pocketed investors.
Read More: NYPost