Citi Alternative Investments Undergoing Name Change

Citi Alternative Investments (CAI) is poised to change to Citi Capital Advisors, say Citigroup (NYSE: C)’s sources. The unit that has $14 billion under management and private equity operations, is set to be renamed thus after rough times in the global financial crisis.

There are rumors that the Citi name may be dropped for some of its units. Trouble spelled for CAI, when CAI hedge funds endured huge losses and investors received just 3 cents on a dollar. CAI now wants to raise $2.5 billion capital with sovereign wealth funds and emerging market investors.