Sunday, December 2, 2007

Private Equity - Citibank

January 08, 2007

Citigroup Private Equity Closes $3.297 Billion Private Equity Fund, Citigroup Capital Partners II

New York ? Citigroup Private Equity today announced the recent closing of Citigroup Capital Partners II (CCP II?), a $3.297 billion fund that makes direct private equity investments in partnership with leading private equity firms.

Citigroup Capital Partners II seeks to construct a well-diversified portfolio of direct investments in equity or equity-related securities or instruments with a primary focus on leveraged buyouts and recapitalizations. Investments are expected to be made in partnership with a variety of private equity firms and be diversified across a range of industries, geographies and transaction sizes. CCP II closed with $3.297 billion of committed capital, comprising commitments from Citigroup clients and employees, as well as Citigroup proprietary capital.

Our strong and experienced investment team, distinct strategy and high level of client service all contributed to making this fundraising a success,? said John Barber, Managing Partner of Citigroup Private Equity.

We believe there continues to be a significant need for capital in the private equity marketplace. CCP II provides a valuable and timely source of capital that has enabled Citigroup Private Equity to partner with premier private equity firms to seek to build a diverse portfolio of investments.

Barber further commented, Our private equity relationships, which are valuable in sourcing and evaluating investment opportunities, combined with Citigroup's vast network and expertise, create a competitive advantage for CCP II. We are pleased with the success of the fundraising, and look forward to working with our partners to continue to source and evaluate new investments for the portfolio.

As part of Citigroup Alternative Investments, Citigroup Private Equity manages and advises on approximately $12 billion in private equity fund commitments, non-control direct private equity investments and mezzanine investments on behalf of proprietary accounts and clients of Citigroup Inc. Citigroup Private Equity's experienced investment professionals are based in New York and London and oversee more than 330 limited partnership investments in private equity and over 75 direct investments.

Reported Assets Under Management are as of December 31, 2006. The total includes discretionary, non-discretionary and monitored accounts representing client, proprietary and employee capital. The assets include committed, but not yet funded, amounts and are valued using a variety of methods. A minority of the assets may be valued as of the end of the prior quarter.

Citigroup Alternative Investments

Citigroup Alternative Investments is an alternative investment platform that manages a wide range of products across four asset classes, including private equity, hedge funds, real estate, structured products and managed futures. CAI manages capital on behalf of Citigroup, as well as third-party institutional and high net worth investors. As of September 30, 2006, CAI had approximately $44.9 billion of un-levered assets under management, ranking CAI among the world's largest alternative asset managers. CAI's goal is to enable its 14 investment centers to retain the entrepreneurial qualities required to capitalize on evolving opportunities, while benefiting from the intellectual, operational and financial resources of Citigroup.


Citigroup, a leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and wealth management. Major brand names under Citigroup?s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at

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