WSJ – Citigroup Inc. is in talks to sell a hedge-fund business with about $4 billion in assets as the bank company continues to whittle down a $547 billion pool of assets marked for sale, according to people familiar with the sale talks.
SkyBridge Capital, a New York alternative-asset manager led by two alumni of Goldman Sachs Group Inc., is in advanced talks to buy Citi’s fund-of-funds business, the same people said. No pact has yet been signed, and the proposed sale price couldn’t be determined.
