PE jostles over Citi’s hedge fund admin unit

PE Hub – Citigroup’s decision to exit its hedge fund administration unit is drawing interest from private equity.

Citi is advising on the sale of the hedge fund admin unit, several sources said. Interested bidders could include PE firms such as TPG Capital, Kohlberg Kravis Roberts & Co. LP, Advent International, Hellman & Friedman or even a strategic like SS&C Technologies Holdings Inc., private equity and banking sources said.

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