Revisiting an investment idea or thesis that has worked wonders is an attraction that even private equity fund managers can find hard to ignore. But fund managers have seen a mixed bag of returns when reinvesting in star investments made at a previous firm. For instance, Renuka Ramnath’s Multiples Alternate Asset Management Pvt. Ltd has made stellar returns betting twice on multiplex chain PVR Ltd. However, her previous employer ICICI Venture Fund Management Co. Ltd’s second bet on the firm was not as profitable as the first. Similarly, WestBridge Capital partners, which separated from Sequoia Capital, went on to reinvest in a couple of companies. Data provided by Venture Intelligence shows significant divergence in returns between the older investments made by Sequoia and the reinvestment bets taken by WestBridge.