Citigroup to enter fund arena


Citigroup Alternative Investments is moving ahead with plans to build its own single manager platform, which will be 'seeded' with money from Citigroup, and it is now looking for an executive to help build the business.

The move follows the lead of banks such as Deutsche Bank, Goldman Sachs, UBS and more recently Morgan Stanley, which have already created their own internal, single-manager hedge fund businesses.

Citigroup announced more than a year ago that it would look to launch a series of hedge funds but now seems poised to begin bringing new managers onto the platform. Citigroup is aiming to