Citi Pumps $800M Into Private Equity, Hedge Funds

Law360, New York (November 7, 2011, 5:00 PM EST) -- Banking giant Citigroup Inc. invested $800 million in its private equity and hedge funds during the last quarter, it said Friday, despite looming Wall Street reforms curbing the practice.

According to a quarterly filing with the U.S. Securities and Exchange Commission, the bank put $800 million into its alternative investment funds even while it sold $1.1 billion in other private equity and hedge fund investments in advance of the Volcker rule, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act that limits banks’...
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