Citigroup To Close Private Equity Placement Division – Second Article

In a surprise move, Citigroup has decided to close its global private equity placement group, which raises money for external private equity firms. The placement group was one of the biggest and most successful in the world, according to a Private Equity News report.

A Citigroup spokeswoman told Private Equity News that “we have decided to focus our efforts on institutional fund raising for our internal funds, and are reducing our third-party fundraising operation. We will retain a core team of professionals to service our existing third-party clients,” she added.

The report says that the placement group raised more than $45bn for clients over the past five years, including many of of PPM’s.

These have included Nordic Capital, Terra Firma and Charterhouse Capital Partners.

Sources at Citigroup told Private Equity News that the bank had still been planning for the growth of the placement group until earlier this year, due to the fact that it requires such a small portion of the bank’s overall balance sheet.

The sources added that the team would be wound up within three to six months, after completing their current mandates.

It is thought that Citigroup will retain its infrastructure investors and Metalmark funds.

New York Private Placement
Article Here

About Us

PPM is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, New York’s private placement leaders.

PPM.co’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.