Citigroup consolidates private equity activities

It has been reported that a leaked Citigroup internal memo from the beginning of February outlined plans for the creation of a new division, to be named Citigroup Private Equity. Citigroup Private Equity will incorporate the private equity investment teams of Citigroup Investments and Salomon Smith Barney, and will be responsible for all of the firm’s direct private equity investment in the US and in Europe. Apparently the new division will be headed by John Barber, Todd Benson and Hunter Reisner.

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