Citigroup Plans Huge Liquidation Sale Of Private Equity, Hedge Fund Units
Monday, February 1, 2010 : PermalinkThe Business Insider – Citigroup is looking to sell its Citi Private Equity unit, according to Bloomberg, and hoping to raise as much as $10 billion in the process.
The first, obviously, is the cash. It will help with its ongoing deleveraging. The second is the Volcker Rule, would likely have forced the company to dump the unit — which manages about $2 billion of the company’s money.
