FRIDAY FEBRUARY 15
Citi: Barring The Door

Banks and hedge funds are not making for very good bedfellows lately. While the eye-popping returns of hedgies earlier this decade prompted institutions to flock to the more promising funds like gummy teenage girls to a Poison concert, the party looks like it’s pretty much over as investors pull rank on weak returns. To the list of banks that have recently been burned by a string of redemptions (UBS, Goldman, et all) add Citigroup, which has just slammed the door on clients trying to pull out of its CSO Partners fund. So, exactly what took the bloom off this rose? And what might Citi’s CEO have to do with it?

February 2008

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