{"id":5394,"date":"2013-02-07T12:44:20","date_gmt":"2013-02-07T16:44:20","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=5394"},"modified":"2013-02-07T12:44:20","modified_gmt":"2013-02-07T16:44:20","slug":"citigroup-renames-fund-unit-napier-park","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/citigroup-renames-fund-unit-napier-park-5394","title":{"rendered":"Citigroup Renames Fund Unit Napier Park"},"content":{"rendered":"<p style=\"text-align: justify;\">Northern, WI 02\/07\/2013 (wallstreetpr) &#8211; A hedge-fund unit of Citigroup Inc.(NYSE:C) has been renamed as Napier Park Global Capital. The fund-unit is estimated to have about $6.8 billion in holdings. Citigroup Inc. (NYSE:C)\u2019s investors and concerned parties including regulators have given the consent to go ahead with the move.<\/p>\n<p style=\"text-align: justify;\">Vikram Pandit, former CEO laid the initiative for spinning out such internal hedge fund-units. Managers will receive about 75% of the fund-unit without any cost, say sources. James O\u2019Brien, co-head of the CCA said, his team was overjoyed at the \u201cprogress\u201d as it prepared for the official launch of Napier Park as an independent asset-management concern. \u201cWe have received an awe-inspiring positive support from all our investors and we are thankful for their support and partnership\u201d he added.<\/p>\n<p style=\"text-align: justify;\">While Citigroup Inc.(NYSE:C) will retain around 25% of the fund, employees and fund managers will receive around 50% of the fund. The CCA head and co-head will get 25% shared equally between them.<\/p>\n<p style=\"text-align: justify;\">The hedge funds bet on asset and mortgage-backed securities, bonds issued by the local government, debts of companies and risky European loans.<\/p>\n<p style=\"text-align: justify;\">Collateralize-loan obligations account for $2.4 billion of the Napier Park unit. They are responsible for converting high-risk loans capable of high yield into securities.<\/p>\n<p style=\"text-align: justify;\">Citigroup Inc.(NYSE:C) shares were decreased by 0.91% and currently trading at $42.66<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Northern, WI 02\/07\/2013 (wallstreetpr) &#8211; A hedge-fund unit of Citigroup Inc.(NYSE:C) has been renamed as Napier Park Global Capital. The fund-unit is estimated to have [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[265],"tags":[1008],"stock_ticker":[],"class_list":["post-5394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-nysec","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Citigroup Renames Fund Unit Napier Park - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/citigroup-renames-fund-unit-napier-park-5394\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citigroup Renames Fund Unit Napier Park - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Northern, WI 02\/07\/2013 (wallstreetpr) &#8211; A hedge-fund unit of Citigroup Inc.(NYSE:C) has been renamed as Napier Park Global Capital. 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