Pandit Fast Money With Hedge Funds Proving Citigroup Dead End

Vikram Pandit knows one way to make big money in hedge funds: sell them.

In July 2007, Pandit sold Old Lane Partners LP to Citigroup Inc. for $800 million and pocketed $165 million for his stake. Then he took over the bank’s in-house hedge-fund group, now called Citi Capital Advisors, or CCA. He became chief executive officer of the whole company just five months later.