Napier Park Global Capital Completes Spinout from Citigroup

  Napier Park Global Capital Completes Spinout from Citigroup

           Napier Park Has $6.8 Billion in Assets Under Management

    People, Investment Philosophy and Operational Infrastructure to Remain
                                  Unchanged

 Firm Will Continue Creating Innovative Investment Solutions for Its Clients

Business Wire

NEW YORK -- March 1, 2013

Napier Park Global Capital, a global alternative asset management firm,
announced today that it has completed its spinout from Citigroup (NYSE:C).
Napier Park has approximately $6.8 billion in assets under management, a
four-year operational track record and more than 100 employees in offices in
New York and London.

Napier Park Global Capital is now majority-owned by the firm’s employees and
has a diversified product mix including hedge funds, single investor accounts,
CLOs and private investing. The same experienced investment and executive
management teams that have successfully run this business over the past four
years will continue to make all operational and investment decisions for
Napier Park Global Capital.

“We are very pleased to have successfully completed the transition of certain
businesses of CCA into a fully independent asset management firm in the form
of Napier Park Global Capital,” said co-CEO Jim O’Brien. “We are particularly
grateful for the support of our clients through this process. They are the
reason we exist, and we have taken considerable time, forethought and planning
to ensure that the performance, client care and innovative solutions they have
come to expect from us remain unchanged. We will build upon our expertise in
credit markets and complex, non-liquid assets to continue to identify unique
alpha opportunities for our investors. Within this new employee-owned and
controlled structure, our interest and the interests of our clients are in
complete alignment.”

As previously announced, 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 calculations.

“We believe the name Napier Park Global Capital suits our firm very well, as
it illustrates our unwavering commitment to developing innovative, tailored
solutions in global markets for our investors worldwide regardless of the
complexity of their investment objectives,” said co-CEO and CIO Jonathan
Dorfman. “While the name of our firm has changed, the people, investment
philosophy and operational and market risk infrastructure that comprise the
foundation of our business will remain unchanged.”

Dorfman continued, “Napier Park Global Capital will continue to benefit from
the hard work and dedication of more than 100 employees, a track record of
delivering strong, risk-adjusted returns through a wide variety of market
conditions and economic cycles, and the existing strong relationships with
large, sophisticated institutional investors. While we have enjoyed a very
long and productive relationship with Citi, we look forward to the evolution
and future growth of Napier Park Global Capital.”

Under the terms of the transaction, Citigroup will be a minority shareholder
in Napier Park Global Capital. Additional terms of the transaction were not
disclosed.

About Napier Park Global Capital

Napier Park Global Capital is an independent alternative asset management firm
that manages approximately $6.8 billion. The firm offers a diversified product
mix including hedge funds, bespoke client solutions, private investments, CLOs
and structured credit to large, sophisticated institutional investors. Napier
Park Global Capital has offices in New York and London. For more information
visit www.napierparkglobal.com

Contact:

Muirfield Partners
Mickey Mandelbaum or Maya Pogoda
310-785-0810
mickey@muirfieldpartners.com
maya@muirfieldpartners.com
 
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