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Citigroup Invests $800M In HF, PE Funds

New York–based financial company Citigroup has invested nearly $800 million of shareholders money in its own private-equity and hedge funds during the third quarter.

New York–based financial company Citigroup has invested nearly $800 million of shareholders money in its own private-equity and hedge funds during the third quarter, Bloomberg reports. The lender has also raised $1.1 billion in a sale of separate hedge-fund and private-equity assets.

This move comes while regulators are planning to introduce the ‘Volcker’ rule to stop deposit-accepting banks from betting with shareholder money. However, according to Citigroup, the $800 million of acquisitions are mainly associated with funding of investments committed earlier to Citi’s private-equity and hedge funds. The lender allocated to funds run by the Citi Capital Advisors division.

Click here for the story from Bloomberg.

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