Davis Polk is advising Citigroup, Inc. in connection with the sale of its Citi Venture Capital International (CVCI) funds business to The Rohatyn Group, LLC. Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2013.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. CVCI is a leader in global emerging markets private equity investing, and currently manages approximately $4.4 billion in equity investments and committed capital. Founded in 2003, The Rohatyn Group is an emerging markets asset management firm headquartered in New York, with offices around the globe.
The Davis Polk corporate team includes partners Leonard Kreynin and Louis L. Goldberg and associates Darren M. Schweiger and David Lenzi. Partner Avishai Shachar and associate Craig A. Phillips are providing tax advice. Partner Kyoko Takahashi Lin and associates Jessica Neidhart Agostinho and Chaoyuan Charles Shi are providing executive compensation advice. All members of the Davis Polk team are based in the New York office.
