Sidley advised Citigroup, the premier global investment bank and financial services company, in the sale of Citi Global Alternatives, LLC to iCapital, a global fintech platform. Citi Global Alternatives represents more than 180 alternative funds distributed globally across a diverse range of alternative investment strategies and asset classes, including private equity, growth equity, private credit, infrastructure, venture capital, real estate, and hedge funds.
As part of the transaction, iCapital will manage and operate the platform, while Citi will remain the distributor of such funds. Citi will continue offering guidance to its clients on the role of alternative investments within a diversified investment strategy and will continue to manage the origination and investment diligence for alternative investments once the management and operations of such funds transition to iCapital.
The Sidley team was led by Elizabeth Shea Fries and Benson Cohen (Investment Funds), and included Peter McCorkell (Labor, Employment and Immigration); Scott Pollock and Nathan Enfield (Tax); Mark L. Kaufmann (Technology and Life Sciences Transactions); Nikita Ponomarev, Jeremy D. Wiener, Jason D. Godelman (M&A); and Kali Froh, Zani Doumbia, and law clerk Karen B. Normil (Investment Funds).
