Citi Seeking Buyer For CVC Private Equity Investments

Nov 3 2010 | 10:17am ET

Citigroup is looking to offload more than a half-billion in private equity co-investments made with CVC Capital Partners.

The $570 million in CVC investments are among $2 billion in private equity holdings Citi is seeking to unwind. They include the $250 million Citi has invested with CVC's Asia funds, €210 million of co-investments in European companies made with CVC, and €15 million in CVC's European fund, Bloomberg News reports.

CVC was founded in 1981 by Citi as its European private equity business, and spun-off from the bank in 1993 through a management buyout. But ties between the two firms have remained close.

Citi is in the process of liquidating some $421 billion in non-core assets after receiving $45 billion in government bailout funds. Last week, it sold some $4 billion in buyout funds to Lexington Partners and handed the management of those funds over to StepStone Group.


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note