Citigroup Closes $3.3B P.E. Fund

Jan 8 2007 | 11:44am ET

Citigroup Private Equity announced today it has closed a $3.3 billion direct investment fund.

Citigroup Capital Partners II will invest in partnership with other private equity firms, focusing on leveraged buyouts and recapitalizations. The fund will invest in a wide variety of industries, regions and deal sizes.

“We believe there continues to be a significant need for capital in the private equity marketplace,” John Barber, managing partner of Citigroup P.E., a New York-based arm of Citigroup Alternative Investments that oversees some $12 billion in assets, said. “CCP II provides a valuable and timely source of capital that has enabled Citigroup Private Equity to partner with premier private equity firms to seek to build a diverse portfolio of investments.”

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