Sunday, 26 April 2015
Last updated 2 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…