Citigroup's $949 Million Trading Day Lands 92nd Spot as It Sells Citi Global Alternatives to iCapital

On May 15, 2025, Citigroup's trading volume reached $949 million, ranking 92nd in the day's stock market activity. Citigroup's stock price increased by 0.89%.

Citigroup has agreed to sell its Citi Global Alternatives unit to iCapital. This move is part of Citigroup's ongoing efforts to simplify its business operations and focus on its core competencies. The deal includes the transfer of approximately 20 employees from Citigroup's alternatives division to iCapital, with the transaction expected to close by the end of the second quarter of 2025. iCapital will assume full operational and management responsibilities for the platform, while Citigroup will retain its role as the investment advisor and distributor for the funds.

This divestiture aligns with Citigroup's strategy to streamline its wealth management operations, as championed by CEO Jane Fraser and overseen by Andy Sieg, head of the global wealth division. By outsourcing the operational complexity of alternative investments to a specialized fintech partner, Citigroup can leverage iCapital's scalable technology and network effects without sacrificing advisory revenues. For iCapital, the acquisition cements its position as a dominant consolidator of private-markets fund platforms, marking its 23rd overall acquisition and 14th back-book addition.

Citigroup's credit card net charge-offs and delinquencies decreased month-over-month in April, as card lending decreased during the month. This positive trend in credit performance reflects Citigroup's efforts to manage risk and maintain the financial health of its credit card portfolio.