Citigroup is poised to relaunch a unit containing its troubled hedge fund operations after nearly two years of poor performance and internal strife. Citi executives wanted to change the name of the unit ? which has $14bn under management and includes private equity operations ? from Citi Alternative Investments to Citi Capital Advisors, following months of wrangling with CAI’s management. Some executives feared that dropping the Citi name could be a prelude to more drastic action such as spinning off CAI’s hedge fund operations.
