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Old Lane Managers Look for Exit From Citi
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Old Lane hedge fund firm with old Morgan Stanley executives, was bought for 800 million by Citigroup partly for the executive talent of old Morgan Stanley executives. Mr Pandit reaped $165 million from the deal and Mr Guru Ramakrishnan, the CEO, tens of millions of dollars. How successful a firm was Old Lane and where is it now? Old Lane was started in 2006. It has returned all the money to original investors last summer, broke even on its original investments, and it has not lost money in the brutal market conditions. The hedge fund unit is now pretty much closed and the executives like Ramakrishnan are leaving. With Citi's worsening condition the hefty price tag for Old Lane has angered investors.
Old Lane Hedge fund firm bought by Citigroup for $800 million- how successful was it?
12/24/2008
Grouped Articles
Old Lane Managers Look for Exit From Citi
Wall Street Journal 12/24/2008
The Citigroup Rescue in November 2008.
11/13/2008
A Morgan Stanley type bear raid by short sellers on Citigroup shares with 50% of share value lost in a few days. Pandit of Citi desperately asks for reinstatement of the uptick rule to prevent short seller raids.
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Old Lane Managers Look for Exit From Citi
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Wall Street Journal 12/24/2008
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Pandit Stakes Citi's Future on Emerging Markets
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