Citigroup blocking withdrawals

Citigroup has barred investors from redeeming money from its long/short corporate debt fund after cl...

Citigroup has barred investors from redeeming money from its long/short corporate debt fund after clients tried to withdraw almost 30% of its $500m assets. According to the Wall Street Journal, the US bank closed off all withdrawals from its London-based hedge fund, CSO Partners. CSO Partners is a single-manager event-driven fund that focuses on corporate credit. Last month, Citigroup invested $100m into the fund in an attempt to stabilise outflows. A spokesman for the bank said it had enforced the suspension to prevent a forced liquidation of leveraged loan assets at prices not refle...