Tue, May 3, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n