Citigroup intends to sell a significant portion of its investment business, including the "daughters" Citi Private Equity, Citi Property Investors, Hedge Fund Management Group, said yesterday the agency Bloomberg, citing a source in the company. Apparently, Citigroup will become the first of the banks, who follow the proposal of President Barack Obama to share their traditional and investment banking. However, to decide on this step of the financial giant made not so much an angry cry of the authorities as the need to free cash flow.

Citigroup plans to sell its investment units that are too risky, according to state affairs. The total value of the assets is estimated at $ 10 billion ready to sell Citi Private Equity (under U.S. $ 2 billion), Citi Property Investors (under 12.5 billion dollars) and Hedge Fund Management Group.

writes Bloomberg, Citi.group already compiled a list of final candidates for Citi Property Investors. This "Daughter" manages commercial property in the U.S., Europe and Asia. Hedge Fund Management Group is engaged in placing clients" money on their behalf in hedge funds. It is assumed that the company Citi Private Equity can be purchased by its management, headed by Todd Benson and Darren Friedman. At Citigroup to comment on sales did not.

"If the assets will be sold to management, the relationship with Citigroup will stop," - says Professor London School of Economics Vol Kirhmayer. Decision to waive investpodrazdeleny analysts say forced: after receiving 27% of shares of state banking group was from the state, and now regulators are required to reduce the giant financial services company. "In my opinion, the sale of assets - primarily the answer to the initiative of Barack Obama," - said Mr. Kirhmayer.

Yet the current decision Citigroup increasingly dictated by economic rather than political factors. Sources Bloomberg argued that the decision to sell Citi Private Equity has been done in the past year, long before the sound of the current initiatives of Barack Obama. "Now, many financial sector companies are considering similar deals, although the issue here is not initiated by regulators, and in need of banks to get cash. Citigroup - a very big company, and the desire to reduce its size is consistent with the challenges of the day," - noted economist IHS Global Insight, Brian Bethune. In support of this interpretation and the fact that Citigroup is not going to completely give up their investment business. The bank wants to retain acquired in December 2007 Metalmark Capital LLC investment fund and venture capital fund Citi Venture Venture Capital International, which invests primarily in emerging markets, including China, India, Central and Eastern Europe, Latin America.

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