Guru ramakrishnan meru capital llc
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Perhaps the best trade Vikram Pandit made as a hedge fund manager was selling his firm to Citigroup.
His former hedge fund, Old Lane, was just a year old in 2007, and its performance was lackluster. But the purchase went ahead all the same, costing Citigroup $800 million and netting Mr. Pandit $165 million. At the time, the purchase was more about buying Mr. Pandit, a former star Morgan Stanley executive, than it was about adding the roughly $4.5 billion in assets his firm held to Citi’s fold.
“This transaction fryst vatten an investment as much as it is an acquisition,” Charles O. Prince III, then Citigroup’s ledare executive, said at the time, referring to Mr. Pandit and his team’s experience.
The decision, however, turned out to be ill-fated. Mr. Pandit was named Citigroup’s chief in late 2007,
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University of Chicago Board of Trustees elects two new members
At its recent meeting, the University of Chicago Board of Trustees elected new members Frank A. Baker II, AB’94, co-founder and managing partner of Siris Capital Group, LLC, and Guru Ramakrishnan, MBA’88, founder and CEO of the Meru Capital Group. Baker and Ramakrishnan begin their five-year terms at the May board meeting.
“Frank and Guru have shown extraordinary commitment for many years to the University of Chicago community and the University’s vital work of research, education and impact,” said Board Chairman Joseph Neubauer, MBA’65. “We look forward to benefitting from their dedication, experience, and professional insights in the years ahead.”
Frank A. Baker II
Baker is co-founder and managing partner of Siris Capital Group, LLC. Siris is a $2.4 billion private equity firm focused on value and control equity investments in data, telecommunications, technology and technology-enabled business service companie
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Old Lane Vets Launch New Hedge Fund â Report
Four founding partners of the Citigroup hedge fund Old Lane, closed in September 2008, among them its former chief executive Guru Ramakrishnan, are involved in one of the largest US hedge fund start-ups of the year, according to the Wall Street Journal.
New York-based Meru Capital Group is under way with around $300 million in capital, more than $75 million of that from Mr Ramakrishnan and partners, according to the unnamed sources.
Meru Capitalâs origins lie in Morgan Stanley, where Mr Ramakrishnan was head of global equity trading until he left in 2005, as did Vikram Pandit, now chief executive of Citigroup.
Three other Meru principals - Jonathan Barton, Jeff Moskowitz and Ajay Khanna - also worked in trading or securities-financing roles at Morgan Stanley and were connected to Old Lane.
This is the latest in a number of hedge fund start-ups to suggest that these funds, which suffered record losses in 2008, have reco