Growth by acquisition likely for Tribeca

Citigroup Alternative Investments (CAI) came close - "reasonably close," is the way Dean Barr puts it - to buying Amaranth Advisors after the hedge fund imploded last September, losing $6bn on bad energy bets in one week.

Barr, who runs the hedge fund division - his actual title is head of liquid alternative investments and chief executive officer of Tribeca Global Management LLC - won't discuss what torpedoed the deal except to say there were some issues on which they couldn't reach mutual a

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