Mon, Aug 3, 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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  3. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  4. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  5. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

 

banner