Lazard to hired to sell stakes in CVCI funds


dollar envelope moneyCiti Venture Capital International (CVCI) has appointed investment bank Lazard to sell up to $1bn in private equity fund stakes.

Lazard will look for a bidder to acquire stakes in CVCI funds after Citi sold the unit to The Rohatyn Group in December, said the Financial News, citing people familiar with the matter.

Rohatyn has hired Lazard in an effort to provide liquidity to investors in CVCI’s old funds, according to the report.

A buyer would likely have to pay as much as $1bn for the fund interst and seed capital, two sources told the Financial News.

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