Citi Buys DiMaio Ahmad CLOs

Aug 17 2011 | 12:51am ET

Citigroup’s alternative investments unit has acquired hedge fund DiMaio Ahmad Capital’s collateralized loan obligations business.

New York-based DiMaio Ahmad transferred management of four CLOs managing a combined $2 billion to Citi Capital Advisors, Citi said yesterday. The move more than doubles the amount of CLO assets managed by CCA to $2.8 billion.

“The acquisition of DA Capital’s CLO business is of strategic value to Citi Capital Advisors as we further leverage our expertise and infrastructure in fixed-income credit,” co-CEO Jim O’Brien said.

Terms of the deal were not disclosed.

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