Tue, Oct 13, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Napier Park returns Citi's money

Wednesday, July 23, 2014

Bailey McCann, Opalesque New York:

Napier Park Global Capital, a hedge fund spin-out from Citi has cut just about every tie with its former parent. The fund left its office space at Citi in June, moving further down Park Avenue in New York in to a building shared with Blue Mountain Capital and Promontory Financial Group. Now, the fund has announced that it has fully paid back Citi's $2.4bn redemption.

For a spin-out to billion dollar standalone hedge fund, Napier's ride has been quick to say the least. The group broke away from Citi in March last year as the bank sought to come into compliance rules that limit its activities in alternative investments. After 18 months, the fund is now fully independent and is managing $6bn in client assets without Citi backing.

"We are very pleased to have completed the redemption of Citi’s fund investments on schedule and with no meaningful decline in our AUM," said Jim O’Brien, senior managing partner of Napier Park. "Over the last 18 months, we have added over $3 billion of new AUM from both existing and new institutional investors."

Napier primarily focuses on specialist credit investments, and has been able to fully replace Citi's initial $2.4bn investment. As Opalesque reported yesterday, credit strategy funds as a cohort have seen continued investor inflows despite the ongoing conversation arou......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Bloomberg.com: Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  2. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From Mondaq.com: The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  3. Other Voices: Why fund boards must develop a response to cyber security and financial crime threats[more]

    This article was written by Carne, an international specialist in the provision of independent governance services and European management company solutions to the global asset management industry. A recent SEC action has highlighted how concerned regulators have become about data intru

  4. Hedge funds relatively resilient in Q3[more]

    Komfie Manalo, Opalesque Asia: Hedge funds fell in the third quarter as market conditions remain challenging, but still outperformed the S&P 500. The Lyxor Hedge Fund index was down 3.6% during Q3 while the S&P 500 fell 8.2%. According to Lyxor, "hedge funds were quite resilient in Q3. Falling en

  5. Hedge funds start Q4 on strong footing reversing the previous market downturn[more]

    Komfie Manalo, Opalesque Asia: Hedge funds started the fourth quarter on a strong footing, reversing the previous market downturn with the Lyxor Hedge Fund Index up 1.1% as of end Oct. 6 (-0.7% YTD). Event-driven outperformed, up 2.2% (-4.2% YTD), and CTAs underperformed (- 1.9%), extrapolatin