Citi Set To Dump Its Hedge Fund Business

A Malaysian sky bridge

Photo: AP

According to the Wall Street Journal’s sources, SkyBridge Capital is talking with Citi about buying Citi’s fund of funds business.Citi plans to offload their $4 billion hedge fund investment business as part of a plan designed to unwind $715 billion in non-core assets, said the WSJ. The pool is currently down to $547 billion.

Apparently the current plan is to keep Citi’s employees in place. Citi’s core fund of funds earned 21% last year.

Read the full story on the Wall Street Journal.

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