Old Lane

Son Of Old Lane A Huge Disappointment

Once upon a time, Sutesh Sharma co-founded a little hedge fund called Old Lane Partners. Now, Old Lane didn’t make its investors much money, but it did make Sharma and his co-founders very wealthy when, for reasons that seemed clearer at the time than they do today, Citigroup decided it would pay any price to buy Old Lane to one day make Sharma’s buddy Vikram Pandit CEO while also denying him the zen garden in the sky he required to be successful.

Sharma went on to run Citi’s proprietary trading operations as Old Lane crashed and burned. But in spite of the five whole years that have passed since then, investors are stubbornly refusing to give Sharma the half-billion dollars he wants has earned for his new hedge fund. Read more »

  • 08 Feb 2013 at 4:08 PM

You Haven’t Seen The Last Of Vikram Pandit

Perhaps, you thought, that the day Vikram Pandit was abruptly and unceremoniously fired from Citigroup was the end. That we’d lost him for good. That he’d retreat to the his Upper West Side manse and spend his days beefing up his Odd Couple memorabilia collection, or work on that novel about a love that dare not speak its name between a bank CEO and the analyst who only acted like she hated him, or build that Zen garden he’d always wanted that the fucks at Citi never let him have. That he was finished with Wall Street. Well fret not. Uncle Vik wouldn’t never do that to you. Read more »

Just a question of which hedge fund he’ll be riding– his own or his former Old Lane colleague’s. Read more »

I’m kidding, of course. As you may have heard, Carlyle is considering buying a stake in a hedge fund manager and is in talks with multiple firms, in addition to looking to raise “two new debt funds and a $1 billion pool to buy small companies.” The units would be overseen by Mitch Petrick, who joined the firm in March from Morgan Stanley. Presumably, there are at least a few people who are amped about Petrick’s potential stewardship, while others are, how to put this, less than thrilled. Read more »