Citi Private Bank To Expand Hedge Fund Platform

Aug 6 2010 | 3:08am ET

Citigroup’s private bank plans to more than triple the number of hedge funds it offers on its hedge fund platform, HedgeForum.

The business—one of a handful of hedge fund-related businesses that Citi is holding on to—currently offers clients access to 24 hedge funds. But David Bailin, head of managed investments at Citi Private Bank, told Bloomberg News that the number would rise to 75 by the end of next year.

HedgeForum became part of Citi Private Bank in March. The business currently manages $2.9 billion, but Bailin said that figure would rise by $1 billion this year and by “multiple” billions over the next two years.

“The refocusing of the business is already being greeted with a lot of success, in terms of both inquiries and new business for Citi Private Bank,” Bailin told Bloomberg.

HedgeForum clients can already choose from among such hedge fund giants at Brevan Howard Asset Management, Paulson & Co. and GoldenTree Asset Management. But Bailin said they’ll soon have access to emerging markets managers, with the private bank using its “network of knowledge and contacts in the emerging markets.”

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...