Citi's big hedge fund decision

Is it too late to jump into the hedge fund renaissance? Citi (C) may test the waters. The Financial Times reports that it is mulling a relaunch of its troubled alternative  investment units after two years of poor performance. The bank apparently wants to change the name from Citi Alternative Investments to Citi Capital Advisors. 

Apparently, there has been a lot of internal wrangling on this issue. One wildcard is how proprietary and emotionally invested CEO Vikram Pandit feels about the unit. He joined Citi as head of Citi Alternative Investments 2007, after getting the bank to buy his Old Lane hedge fund for $800 million. The fund was a dog and has since closed. Certainly, the poor performance of the hedge fund unit has been a stain on his resume at Citi.

For more:
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