Citigroup is planning to sell around $500 million in buyout funds managed by CVC Capital Partners, The Wall Street Journal reports. Massachusetts-based fund-of-funds manager, HarbourVest Partners, is in discussions with the lender to buy stakes in Europe.
London-based fund-of-funds manager, Pantheon, is also in talks to buy stakes in CVC’s Asian funds. Citi sold around $4 billion in private equity funds to StepStone Group in October last year.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Bloomberg.