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    HomeNewsWorldCiti to sell alternative investor services unit for $425 mn

    Citi to sell alternative investor services unit for $425 mn

    The business, which has about 1,500 employees, includes hedge fund and private equity fund services, SS&C said on Tuesday.

    August 18, 2015 / 20:35 IST

    Citigroup Inc is selling its alternative investor services business to financial technology provider SS&C Technologies Holdings Inc for USD 425 million, subject to adjustments.

    The business, which has about 1,500 employees, includes hedge fund and private equity fund services, SS&C said on Tuesday.

    Citi, the No. 3 US bank by assets, has been hiving off non-core assets to focus on wealthier clients.

    Financial terms of the transaction are not material to the bank, Citi said in a separate statement.

    first published: Aug 18, 2015 08:35 pm

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