TRG will have 18 offices globally and investments will include private equity, real estate, infrastructure, hedge funds, fixed income and inflation-linked bonds.
Citigroup CEO Michael Corbat is among U.S. bank chiefs grappling with the Volcker rule, which aims to bar federally backed lenders from making bets with shareholder cash that might lead to a catastrophic failure.
The rule would keep lenders from investing more than 3% of Tier 1 capital in private-equity and hedge funds or owning more than 3% of the funds.
Dipak Rastogi, CVCI’s founder and leader since inception in 2001, won’t stay with the venture, according to an internal memo from Jamie Forese, Citigroup’s co-president, and James von Moltke, head of corporate mergers and acquisitions.
Rastogi had been with the company for 30 years, according to the memo.
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image: © Elliott Brown