Mon, Apr 27, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Napier Park Global Capital completes spinout from Citigroup

Friday, March 01, 2013
Opalesque Industry Update – Napier Park Global Capital, a global alternative asset management firm, has completed its spinout from Citigroup. Napier Park has approximately $6.8 billion in assets under management, a four-year operational track record and more than 100 employees in offices in New York and London.

Napier Park Global Capital is now majority-owned by the firm’s employees and has a diversified product mix including hedge funds, single investor accounts, CLOs and private investing. The same experienced investment and executive management teams that have successfully run this business over the past four years will continue to make all operational and investment decisions for Napier Park Global Capital.

“We are very pleased to have successfully completed the transition of certain businesses of CCA into a fully independent asset management firm in the form of Napier Park Global Capital,” said co-CEO Jim O’Brien. “We are particularly grateful for the support of our clients through this process. They are the reason we exist, and we have taken considerable time, forethought and planning to ensure that the performance, client care and innovative solutions they have come to expect from us remain unchanged. We will build upon our expertise in credit markets and complex, non-liquid assets to continue to identify unique alpha opportunities for our investors. Within this new employee-owned and controlled structure, our interest and the interests of our clients are in complete alignment.”

As previously announced, the name, Napier Park Global Capital, was inspired by the 16th century Scottish mathematician and physicist, John Napier, who was best known for originating the concept of logarithms as a way to simplify large, complex calculations.

“We believe the name Napier Park Global Capital suits our firm very well, as it illustrates our unwavering commitment to developing innovative, tailored solutions in global markets for our investors worldwide regardless of the complexity of their investment objectives,” said co-CEO and CIO Jonathan Dorfman. “While the name of our firm has changed, the people, investment philosophy and operational and market risk infrastructure that comprise the foundation of our business will remain unchanged.”

Dorfman continued, “Napier Park Global Capital will continue to benefit from the hard work and dedication of more than 100 employees, a track record of delivering strong, risk-adjusted returns through a wide variety of market conditions and economic cycles, and the existing strong relationships with large, sophisticated institutional investors. While we have enjoyed a very long and productive relationship with Citi, we look forward to the evolution and future growth of Napier Park Global Capital.”

Under the terms of the transaction, Citigroup will be a minority shareholder in Napier Park Global Capital. Additional terms of the transaction were not disclosed.

Press release

www.napierparkglobal.com

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner