Citigroup to shutter hedge fund group

Citigroup's move to shutter its Tribeca Global Investments hedge fund could easily be portrayed as a move spurred by the current credit crisis. It's probably not a great example. True, performance was lagging. But the funds were far from imploding. The move reflects the stamp of Vikram Pandit, who was brought in to run Citigroup's hedge fund operations. Recall, he joined the company after Citigroup bought his firm Old Lane Partners. But there are plenty of hedge funds falling for reasons directly related to the crunch. Global Advisors, for example, has decided this week to shut down two of three commodities funds.  

For more on Citigroup:
- here's the New York Times article