Citigroup to offload pe portfolio to Lexington Partners
According to reports, Citigroup is close to a sale of its $900m private-equity investments to Lexington Partners, including an interest in Citigroup Capital Partners II.
This is part of the banking group's efforts to offload more than $500bn of non-core assets.
California-based private-equity firm StepStone Group has been appointed to manage the portfolio, while Lexington will own the underlying assets in the funds.
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