New York (HedgeCo.Net) – Hedge fund asset management firm, Napier Park Global Capital, has completed its spinout from Citigroup. Napier Park has approximately $6.8 billion in assets under management, a four-year operational track record and more than 100 employees in offices in New York and London.
Napier Park Global Capital is now majority-owned by the firm’s employees and has a diversified product mix including hedge funds, single investor accounts, CLOs and private investing.
“We are very pleased to have successfully completed the transition of certain businesses of CCA into a fully independent asset management firm in the form of Napier Park Global Capital,” said co-CEO Jim O’Brien. “Within this new employee-owned and controlled structure, our interest and the interests of our clients are in complete alignment.”
Under the terms of the transaction, Citigroup will be a minority shareholder in Napier Park Global Capital. Additional terms of the transaction were not disclosed.
Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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