×

Off The Record w/ Charlie Gasparino

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

Any talk about the plight of Citigroup 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 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.


______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.

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)

GE Is The Parent Company Of CNBC
NBC Univesral Is The Parent Company Of CNBC

For JoeTerranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)

For Jim Iuorio
Iuorio Owns (GLD)
Iuorio Owns (SLV)
Iuorio Owns Euro

For Deborah Weinswig
A Household Member Of A Member Of Weinswig's Team Is Trustee For An Account Which Owns (HD)
A Household Member Of A Member Of Weinswig's Team Is Trustee For An Account Which Owns (TGT)
A Director Of Citi Serves On Board, Audit Committee Of (TGT), An Employee Of Citigroup Global Markets Or Affiliates Is A Trustee Of (TGT)
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (JCP), (SKS), (TGT)
Citigroup Or Affiliates Managed Or Co-Managed An Offering Of (KR), (SVU), (WMT)
Citigroup Global Markets Or Affiliates Has Received Compensation For Investment Banking Services Provided In Past 12 Months From (KR), (SKS), (SVU), (TGT), (WMT)
Citigroup Global Markets Or Affiliates Expects To Receive/Seek Investment Banking Compensation From (WMT) In next 3 Months
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation From (HD), (JCP), (KSS), (KR), (LOW), (M), (SWY), (SKS), (SVU), (TGT), (WAG), (WMT), (COST) In Past 12 Months
(KR), (SKS), (SVU), (TGT), (WMT) Are Or In Past 12 Months Were Investment Banking Clients Of Citigroup Global Markets
(CVS), (HD), (JCP), (KSS), (KR), (LOW), (M), (SWY), (SKS), (SVU), (TGT), (WAG), (WMT), (COST) Are Or In Past 12 Months Were Non-Investment Banking, Non-Securities Related Clients Of Citigroup Global Markets
Citigroup Gloal Markets Is A Market Maker In (CVS), (M), (COST)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (CVS), (HD), (JCP), (KSS), (KR), (LOW), (M), (JWN), (SWY), (SKS), (SVU), (TGT), (WMT), (COST)
Citigroup Global Markets Or Affiliates Owns 5% Or More Of (SKS)


CNBC.com with wires