Citigroup sells real estate investment management business

Office_buildings1Citigroup sold its real estate investment management business to private equity firm Apollo Global Management for an undisclosed sum. As at 30 June 2010, Citi Property Investors (CPI) had assets under management of over $3bn (€2.2bn). The real estate investment platform had investment professionals in Asia, Europe and North America. These employees will join Apollo Global Management’s real estate arm, which will take over the management of a number of CPI's funds, including its flagship funds, CPI Capital Partners Asia Pacific, CPI Capital Partners Europe and CPI Capital Partners North America. The two commercial real estate investment organisations will be united under the leadership of Joseph Azrack, former president and chief executive officer of CPI. The combined group will be headquartered in New York with offices in London, Hong Kong, Mumbai, and Los Angeles. The firm's team of real estate investment professionals will work integrally with other Apollo investment groups to source, underwrite, structure and manage investments in commercial real estate assets, companies, and operating platforms. ©2010 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.