Thursday, 18 September 2014
Last updated 12 hours ago
Dec 10 2010 | 12:24am ET
The writing on the wall says that bigger hedge funds will inherit the earth, and Citigroup can read. The banking giant said yesterday that it will offer advisory services to larger hedge funds, hoping to fill a niche that is ignored by most advisory firms, who cater to smaller managers.
Which is not to say that Citi Prime Finance's new business advisory practice will turn up its nose at any kind of business: The firm said it will partner with hedge funds "through all phases of their growth and maturity, from start-ups to institutional-size funds."
“Institutionalized hedge funds, with assets under management of $10 billion or more, have very different needs from those of start-up funds with less than $1 billion in assets,” said Sandy Kaul, who will head the advisory's U.S. business. “Citi Prime Finance is well-suited to provide the mix of consulting services, industry insight and thought leadership that hedge funds need right now.”
Citi plans to offer management and technology consulting, start-up services, business management services, operation review assessments, technology infrastructure and client-facing technology support.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.