Tuesday, 21 October 2014
Last updated 3 hours ago
Feb 24 2010 | 3:36am ET
Citigroup and hedge fund seeder SkyBridge Capital are in advanced talks about the former’s fund of hedge funds business.
Under pressure from the U.S. government, which owns a 27% stake in Citi, the Wall Street giant is selling off more than $500 billion in assets. A sale of the $4 billion fund of funds business is part of Citi’s plan to sell, spin-off or close several alternative investments businesses.
Citi’s Hedge Fund Management Group includes about $2.5 billion in hedge fund assets advised by Citi, $1 billion in fund of funds assets and $500 million in seed capital investments.
As part of the proposed deal with SkyBridge, the management team of the Citi unit would continue to oversee the assets, The Wall Street Journal reports. SkyBridge currently manages about $400 million and has investments in seven hedge funds.
It is unclear how much SkyBridge would pay for the group. The deal has yet to be finalized.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...