Global alternative asset managers including Blackstone have entered into strategic partnerships with Citi to launch evergreen private markets funds for its high-net-worth clients in Asia and the Middle East.
Citi Singapore and Citi Hong Kong have partnered with Blackstone, Blue Owl and KKR to increase its capabilities within private markets, including private equity, private credit, infrastructure and real estate.
The funds will offer simplified access to private markets with more flexible subscription and liquidity terms for Citigold private clients in Asia and the Middle East, the investment bank said.
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“In today’s complex and volatile market, our clients are rightly seeking resilient, diversified sources of returns beyond traditional public markets,” said Vicky Kong, head of wealth, Asia North and Australia at Citi. “This collaboration with Blackstone, Blue Owl and KKR directly addresses that demand by providing access to private markets that were previously available only to institutional and private bank investors.”
The launch of the funds has begun and they will continue to be rolled out over the coming months, the firm added.
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“We remain committed to expanding access to institutional-quality private market opportunities for Citi’s high-net-worth clients, helping them diversify their portfolios,” said Ed Huang, head of Asia Pacific for Blackstone private wealth.
“Our global partnership with Citi for their platform expansion in Asia is a critical milestone in our collective effort to provide best-in-class access to the private markets for investors,” said Sean Connor, chief executive and global head of private wealth at Blue Owl Capital. “We are pleased to bring Blue Owl’s differentiated investment capabilities, all-weather solutions, along with dedicated service and support for Citi financial advisers and their clients.”
