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Alternative Market Briefing

Citigroup sells more than $6bn in hedge fund and private equity assets

Tuesday, September 03, 2013

Precy Dumlao, Opalesque Asia:

Investment bank Citigroup Inc. offloaded more than $6bn in hedge fund and private equity assets over the past month, in compliance with the Volcker Rule that sets a cap on alternative investments, people familiar with the deals told The Wall Street Journal.

Citigroup sold its $4.3m private equity fund Citi Venture Capital International for an undisclosed amount to private equity fund Rohatyn Group which is led by Nick Rohatyn, The Journal said.

The bank sold a $1.9bn emerging market hedge fund to the fund’s managers on August 9. It also sold the ......................

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