Somebody big is starting a new hedge fund and CNBC’s Charlie Gasparino has the details!

Any talk about the plight of Citigroup

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[C  Loading...      ()   ] will invariably bring up the name Thomas Maheras. He was the company's former president and the man at the heart of the firm's push into subprime loans.

But according to our own on-air-editor, Charlie Gasparino he's back in a big way: running a hedge fund that is up this year because of some unconventional investing.

It’s called the Tagean Fund and it’s up 84% this year, Gasparino says. And among its holdings are AMD

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[AMD  Loading...      ()   ] and Citigroup.

In addition, Gasparino says Maheras has a prime brokerage account at Citi, which means Citi can process his trades and lend him money. Also Gasparino says, ironically, former Citi Chairman Sandy Weill is one of the fund’s top investors.

And another interesting investor in Tagean is Notre Dame University, adds Gasparino, which he says is Maheras’ alma mater.

Citi and Weill have no comment.

 

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Trader disclosure: On November 4th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (CSCO), Is Short (CSCO) Calls; Najarian Owns (GE) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (UUP) Calls; Najarian Owns (YHOO), (YHOO) Puts; Najarian Owns (TXN); Terranova Owns (GS), (RIMM), (CAM), (MA), (OIH); Terranova Owns December Gold Futures; Seygem Asset Management Owns (BSBR)

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