Citi is reportedly shopping around a $1 billion private-equity portfolio, the WSJ reports.The bank is in talks with “an exclusive group of bidders” as part of its ongoing program to strip away its noncore assets.
The portfolio on the chopping block is a “mix of private-equity co-investments and fund positions spanning across strategies, including buyout, venture capital and debt,” sources told the WSJ.
Not much is known beyond that, except that supposedly included in the portfolio is a massive position in KKR that Citi is keen to be rid of.
“Citi is running its own process and has sent invitations out to a handful of secondary buyers,” which include Pantheon, Coller Capital, Lexington Partners, Partners Group and HarbourVest Partners.
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