Telegraph.co.ukThree defectors who quit Morgan Stanley last year when the firm was overtaken by management turmoil are poised to return to Wall Street after persuading investors to stump up more than $2bn (£1.1bn).
The trio – Vikram Pandit, John Havens and Guru Ramakrishnan – plan to launch a new hedge fund called Old Lane in New York early next month, almost a year to the day since they quit the investment bank.
The fund will invest in a wide range of areas and is expected to include a $500m India-specific pool that will invest in the country’s infrastructure sector.
Old Lane will be the second biggest hedge fund to start up this year, after Convexity Capital Management, which was founded by Jack Meyer, the former investment chief of Harvard University’s endowment fund, and raised a record $6bn.
The Morgan Stanley rainmakers have more than five decades of Wall Street experience between them.
