Citigroup today announced that it has reached a definitive agreement to
sell its Alternative Investor Services business, which comprises Hedge
Fund Services and Private Equity Fund Services, to SS&C Technologies
Holdings, Inc. The entire operations of this business, including
approximately 1,500 employees, will be transferred to SS&C upon closing.
This transaction is a positive outcome for Alternative Investor
Services, including its employees and clients. As a result of this deal,
Alternative Investor Services will become part of a known leader in
financial services with a demonstrated track record of delivering
high-quality products and services to its clients.
The financial terms of the transaction are not material to Citi. The
deal is expected to close in the first quarter of 2016, and is subject
to regulatory approvals and other customary closing conditions.
Citi’s Institutional Clients Group advised Citi on this transaction.
About Citi
Citi, the leading global bank, has approximately 200 million customer
accounts and does business in more than 160 countries and jurisdictions.
Citi provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities
brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com
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