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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...