Bloomberg – Citigroup Inc., the third-largest U.S. bank by assets, drew investments from hedge funds including Lone Pine Capital LLC and Moore Capital Management LLC in the fourth quarter as the U.S. government cut its stake.
Lone Pine, Stephen F. Mandel’s Greenwich, Connecticut-based hedge fund, bought 145.1 million shares in Citigroup valued at $686.5 million as of Dec. 31, making it Lone Pine’s largest holding, according to a filing yesterday with the U.S. Securities and Exchange Commission.
