One Year Ago
»»Jonathan Rosenthal and Eric Fonsca, formerly of
Sandell Asset Management, formed Newfoundland Capital in Sao
Paolo and planned on launching a long/short fund focused on
Latin America that November.
Five Years Ago
Vikram Pandit co-founded Old Lane Management with former
Morgan Stanley executives John Havens and Guru Ramakrishnan.
The firm managed $4 billion by January 1, 2007. In April 2007,
Citigroup inked a deal to purchase Old Lane for more than $800
million, and only eight months later, on December 11, 2007,
Pandit became Citigroup’s new chief executive
following the departure of Charles Prince. But flat performance
and investor redemptions led the bank to shutter Old Lane in
George Soros paid $15,000 to attend the Clinton Global
Initiative gala dinner, where he ate alongside such highflyers
as former President Bill Clinton and then-Senator Hillary
Clinton, Condoleezza Rice and Rupert Murdoch. Topics at the
dinner included climate change, religion, business and poverty.
In the 2004 election, Soros was a generous donor to the
Democrats, giving over $10 million in an attempt to unseat
President George W. Bush.
»»Tom Steyer’s Farallon Capital
Management opened a new fund for international investors,
Farallon Capital Offshore Investors II, allowing them to share
the profits from the firm’s
less liquid but potentially higher-return assets, including
private equity and real estate investments.
»»SAC Capital Advisors began asking prospective
investors in its then-new SAC Multi-Strategy Fund to
sign and return nondisclosure agreements before allowing
them to meet with the firm to discuss the offering. The move
sparked outrage with investors, who claimed at the time that
asking them to sign a nondisclosure agreement before they had
even learned about the investment was ridiculous.