CMBS Rock Star to Make Comeback with Own Fund

Andy Stone, CSFB’s former CMBS king, is planning to make a comeback. After pocketing $100 million between 1997 and 1999 (through a comp deal that let his group keep 30% of its profits), Stone took off just before the Russian debt crisis, leaving CSFB holding the bag. Since then he’s been sailing his yacht and coaching his son’s little league team. Now, with the help of former colleagues, he’s looking to launch a $500 million to $750 million hedge fund called Petra, a target which should be easily achievable according to industry players.
Former Deal Maker Looks to Get Back In [Wall Street Journal]

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