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Citigroup aims to sell hedge fund unit
Citigroup is reportedly interested in selling a hedge fund unit with $4 billion in assets under management to SkyBridge Capital.
Last year, Citi decided to sell $715 billion in non-core assets, and it has since succeeded in divesting itself of about $168 billion on these assets, leaving a remaining balance of $547 billion, the Bank reports.
Businesses that Citi has sold include a majority sake in Smith Barney's retail brokerage business, its Nikko Capital securities and asset management companies in Japan, as well as credit card and consumer finance companies in Portugal, Italy and Norway.
Last year, Citi decided to sell $715 billion in non-core assets, and it has since succeeded in divesting itself of about $168 billion on these assets, leaving a remaining balance of $547 billion, the Bank reports.
Businesses that Citi has sold include a majority sake in Smith Barney's retail brokerage business, its Nikko Capital securities and asset management companies in Japan, as well as credit card and consumer finance companies in Portugal, Italy and Norway.
