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Citi to relaunch hedge fund ops: report

Financial service major Citigroup is planning to relaunch Citi Alternative Investments, a unit that contains its hedge fund operations, a media report said. "Citigroup is poised to relaunch the unit containing its troubled hedge fund operations after nearly two years of poor performance, internal strife and investor unrest," the Financial Times said. - Pandit "near death" cash hoard signals lower US bank profits - Citi, Bank of America managers averaged $18 mn pay in 2008 - Credit Suisse posts third straight quarterly profit - Citigroup drops $4.5 mn renovation plan: report - Citigroup posts $101 mn Q3 profits; credit loss at $8 bn - Citi set to pay $6,00,000 fine to FINRA: report Sensex ends up 35pts Cox & Kings Q3 net jumps 88% to Rs 19 cr UCO Bank seeks shareholders" nod for fund raising Negative view on state-run oil cos: Fitch Jan cement sales in high double-digit The report said some executives feared that dropping the Citi name could be a prelude to more dramatic actions such as a spin-off of the hedge fund parts of CAI, or the winding of hedge fund operations if the unit failed to raise more outside funds. In the short term, the report said citing insiders, a separation is unlikely because around half of the $2.7 billion in the internal hedge funds comes from Citi.


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