Alternative Asset Management Spinout from Citigroup to Be Named Napier Park Global Capital

  Alternative Asset Management Spinout from Citigroup to Be Named Napier Park
  Global Capital

Napier Park Global Capital Expected to Have Approximately $6.8 Billion of AUM

 Material Regulatory Approvals Obtained and Separation from Citi is Expected
                       During the First Quarter of 2013

Business Wire

NEW YORK -- February 6, 2013

Citi Capital Advisors (CCA), a global alternative asset management platform,
announced today that significant progress has been made towards the separation
of certain of its businesses from Citigroup (NYSE:C). The new independent
asset management firm will be called Napier Park Global Capital (“Napier

Material regulatory approvals have already been obtained and the investor and
counterparty consent process is nearly complete. Once the separation is
completed during the first quarter of 2013, Napier Park Global Capital will be
majority owned by its employees and have a diversified product mix including
hedge funds, bespoke client solutions, CLOs and private investing. Napier Park
is expected to have approximately $6.8 billion of assets under management at

The name, Napier Park Global Capital, was inspired by the 16^th century
Scottish mathematician and physicist, John Napier, who was best known for
originating the concept of logarithms as a way to simplify large, complex

“We are very pleased with the progress we have made as we prepare to
officially launch Napier Park as an independent asset management firm in the
coming months. The support of our investors has been overwhelmingly positive
and we are grateful for their partnership. Our goal is to continue to innovate
and perform for them as we move forward,” said CCA co-CEO Jim O’Brien.

Separately, the firm is being appointed the portfolio manager of a $415
million collateralized loan obligation (CLO) fund scheduled to close this
quarter. The CLO platform, currently $2.4 billion AUM, and the credit/loan
strategies will continue to be a key investment center at Napier Park after
the separation from Citi is completed.

Additionally, it was announced that the European Credit Opportunities Fund was
named Credit Manager of the Year by EuroHedge for achieving the best
risk-adjusted performance in its category. The award was presented on January
24, 2013 during a hedge fund industry dinner and awards ceremony held at
London's Grosvenor House Hotel. Finally, the recent returns of the firm’s
Mortgage Credit Opportunities Fund have qualified it to be ranked 19^th among
Bloomberg’s Top 50 Mid-Sized Hedge Funds and Absolute Return’s Top 10 Mortgage

About Citi Capital Advisors

Citi Capital Advisors (CCA) is a global alternative management platform that
offers a broad range of innovative strategies and products to select
institutional and ultra-high-net-worth investors. CCA manages approximately
$18 billion in assets across more than 25 funds/managed accounts and three
businesses: Market Strategies, Private Equity and Infrastructure. For more
information, please visit


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Mickey Mandelbaum or Maya Pogoda
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