Citigroup Closes Vikram Pandit's Hedge Fund

Vikram PanditPhoto: Corbis
The departures of Mr. Pandit and other high-ranking Old Lane officials for bigger jobs at Citigroup triggered a provision allowing outside investors to withdraw their money from the fund. In April, "substantially all" of them moved to do so, pulling nearly $3 billion, according to a securities filing.
Nice. According to the Journal, Pandit recused himself from the should–we–or–should–we–not–euthanize–Old Lane conversations that have been happening for the past month or so, but it's said he held Ramakrishnan's hand and whispered comforting words to him as it went down.

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