NEW YORK, April 23
Citigroup winding down private placement business-source
Citigroup Inc. is slowing down its private placement business, called Citi Alternatives Distribution Group.
A fraction of the group will remain to serve existing customers.
According to Citigroup’s website, the private placement division consists of a team of more than 50 people. The team is primarily focused on capital raising for private equity funds, real estate, infrastructure and hedge funds.
Asked about the immediate and long term impact to PPM, CEO Jake Evans remarked that “We have a great relationship with Citi’s team. I am personally upset for the loss of jobs. In many respects our firm is the exclusive private placement memorandum consultants for Citi. This, I am told, will continue long term. Short term may slow some of our European projects down. We may, however, also bring aboard one or two of the people that Citi lets go.”
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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.