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Lazard brought in to sell $1 billion Citi fund stakes

US investment bank lands secondaries mandate for Citi’s former venture arm, which was sold to The Rohatyn Group in December

Investment bank Lazard has been appointed to sell up to $1 billion in private equity fund interests managed by Citi Venture Capital International, the former emerging markets private equity arm of Citigroup.

People familiar with the matter said Lazard will now look for a bidder to buy investor stakes in CVCI funds, after Citigroup sold the business to emerging markets investor The Rohatyn Group in December.

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