Castle Hallenstein: Home Sweet HomeCitigroup's former $100 million man has been freed from the tyranny of life as a serf under Czar Kenneth I. But if he wants to keep the nine-figure bonus checks rolling in under his new masters at Occidental Petroleum, he's gonna need some new patrons.
Now, Citi chose to sell Hall's business, Phibro, to Occidental for a few nickels rather than simply spin it off as an independent hedge fund. Still, Hall knows where the money is (a lot of it is hidden in the keep of his German castle) and he's asked the Blackstone Group to find it.
Blackstone's placement agency, Park Hill Group, is looking to drum up business for Phibro's commodity-trading fund, specifically from hedge fund investors. That way, Hall has plenty of money from which to earn his 2 and 20. And he'll need it if he's to keep up with Cohens on the auction circuit: Hall and Phibro's other big earners agreed to have a good chunk of their future bonuses deferred.
Phibro reaches out to hedge fund investors [MarketWatch]