Fund launches & closures

Citi-backed Ivaldi platform lines up MSK Capital for first spin-out

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Ivaldi Capital, the alpha-generation platform formed by Citi in 2010 and backed by major institutional investors, is spinning out its first internal portfolio management team as a standalone entity.

Former Altima Partners long/short equity manager Makis Kaketsis and his team on the MSK strategy are going solo with Ivaldi’s backing and will be taking in outside investor capital from the start of October.

Ivaldi is providing $200 million of locked-up capital to the newly formed MSK Capital entity and the firm is limiting the initial capital-raising from third-party investors to just $100 million – after which the fund