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Hedge Funds Back In Obama's Good Graces?

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Matthew Goldstein says yes, as evidenced by the fact that no cruel or unusual restrictions or regulations are placed on them in the financial regulatory reform package (early drafts stated that managers had to appear on Power Lunch and interface with Dennis Kneale at least once a week, in addition to requiring them to wear fishnets and heels while trading or, in the case of firms that would welcome such attire, banned anything deemed "chick garb"). Obviously some hedge fund leading light is responsible for getting 'Bama to change his tune post-Chrysler public tongue lashing (and Biff Basness performance art). The question is who and how?


Vikram Pandit To Get Back In The Hedge Fund Saddle Again, At Some Point

Just a question of which hedge fund he'll be riding-- his own or his former Old Lane colleague's. The buzz on Wall Street is that ousted Citigroup CEO 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 is viewed by the hedge fund community as a rainmaker due to his ties to deep-pocketed investors. “I wouldn’t be surprised if he felt the timing was right to join an existing fund . . . or start his own fund,” said Robert Olman of hedge-fund search firm Alpha Search Advisory Partners. Thinking ahead, how much do we predict Citi will pay to acquire Portman Square (or Pandit Partners) in order to lure Big Vik back, which is kind their thing? Last time around it was $800 million so they'll probably have to offer at least $2bn. Pandit Packing For London Hedges [NYP via FINalternatives]