Lehman/hedge funds Permanent Optimists

In the afterglow of its groundbreaking $1bn bond offering for hedge fund giant Citadel, Lehman Brothers is ringing doorbells around Greenwich. It’s seeking to convince other managers to raise permanent capital in the public markets. Citadel and successful fund launches by a handful of UK hedge funds last year have emboldened the investment bank to pursue these mandates. But Lehman’s rivals would be well advised to hold off grabbing the next express from Grand Central. Larry Wieseneck, head of L...