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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of