SkyBridge Capital looks to grab Citi Alternative Investments
|March 1st, 2010||
|Early this month, it is expected that Citigroup Inc. (NYSE:C) will reach an agreement to sell its hedge fund unit to SkyBridge Capital LLC, a New York firm led by Scott Prince and Anthony Scaramucci. According to a recent Reuters article, the deal is anticipated to include the Citi Alternative Investments unit, which has approximately $4 billion in assets under management. |
Old Lane Funds, a hedge fund launched by Citi’s CEO Vikram Pandit in 2006 and taken over by Citi the very next year, is not part of the deal. Raymond Nolte is currently the head of Citi Alternative Investments, which has been managing hedge funds-of-funds since 1994.
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