Bloomberg – Citigroup Inc., the third-biggest U.S. lender, invested about $800 million of shareholders’ money in its own private-equity and hedge funds during the third quarter as regulators seek to curtail the practice.
The bank invested the money in “Citi-advised” funds while selling $1.1 billion of separate hedge-fund and private-equity assets, New York-based Citigroup said in a Nov. 4 filing.
