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Investment Bank
FINANCE | Retail Banking
citigroup.com

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Investments

154

Funds

1

Partners & Customers

10

About Citigroup

Citigroup (NYSE: C) is a financial service provider. It provides consumers, corporations, governments, and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. The company was founded in 1812 and is based in New York, New York.

Citigroup Headquarters Location

388 Greenwich Street

New York, New York, 10013,

United States

212-559-1000

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Expert Collections containing Citigroup

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Citigroup in 3 Expert Collections, including Vitamin & Supplement Startups.

V

Vitamin & Supplement Startups

237 items

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

C

Conference Exhibitors

5,302 items

Citigroup Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Citigroup Rank

Latest Citigroup News

Adani’s bonds drop amid concerns of debt

Sep 23, 2022

Friday, 23 Sep 2022 Leading the way: Adani became the world’s second-richest person on Forbes’ real-time billionaire tracker after becoming the first Asian to break into the top three. — AFP NEW DELHI: Surging share prices of Gautam Adani’s companies have helped make him the world’s second-richest person. The bond market isn’t quite as enthusiastic. Stocks of firms in his Indian business empire – spanning ports to gas distribution and coal mining – have jumped in part on soaring energy prices. Adani Ports & Special Economic Zone Ltd has climbed 29% in 2022 and hit a record this week, while shares in some of his other companies have surged more than 1,000% in the past two years. But in the debt market, Adani Ports’ dollar bonds have dropped more than Indian peers on concern about the group’s debt, and its notes due in August 2027 fell to an all-time low this week, Bloomberg-compiled prices show. Bonds of group companies including Adani Green Energy Ltd and Adani Transmission Step-One Ltd also mostly underperformed the broader Indian market. The diverging moves suggest that high debt poses risks to Adani’s success story that saw his net worth shoot up to only trail Elon Musk’s, the Bloomberg Billionaires Index shows. The conglomerate’s rapid expansion into areas such as renewable energy and media has left it with leverage that Fitch Group unit CreditSights described as elevated and “a matter of concern.” “Equity investors are bidding up the shares, giving a premium for the steep growth targets in place,” said Hemindra Hazari, an independent research analyst based in Mumbai. “Debt holders are getting worried about the high leverage.” Adani Group declined to comment when asked about its dollar bonds underperforming Indian and regional peers. The conglomerate in the past has allayed concerns about the high debt levels, saying its credit metrics have improved in the past few years and it has received equity infusion from global investors. Adani Ports’ seven dollar-denominated notes have lost about 14% on average so far this year, while Adani Transmission Step-One’s notes due in 2036 and Adani Electricity Mumbai’s 2030 securities have lost more than 17% each. That exceeds a 10% decline for Indian dollar debt overall and a 13% drop in US currency notes in Asia excluding Japan, as rising borrowing costs in the United States drag down the region’s greenback debt. Not all Adani bonds have underperformed the broader market, though, even as they’ve lost money. For instance, Adani Green Energy’s 2024 notes lost 9%, while Adani Ports’ securities due in the same year dropped 4.4%. The recent run of investments by Adani includes a plan to inject 200 billion rupees (RM11bil) into a cement firm that he acquired to bolster his infrastructure empire, and a US$70bil (RM320bil) bet on green energy. Adani’s investment plan provides a “visible path for debt to increase” but a “less transparent path for earnings before interest, taxes, depreciation, and amortisation (Ebitda) to grow,” particularly further in the future, CreditSights analysts wrote in a note this month. The Adani Group has disputed CreditSights’ assessments, saying it’s improved its debt metrics over the past decade, with the leverage ratios of its portfolio companies now “healthy” and in line with their respective industries. Adani Ports’ total debt stood at 456.4 billion rupees (RM26bil) at the end of March, according to a statement from the group. That would be the highest in at least 10 years, data compiled by Bloomberg show. Future potential big-ticket acquisitions by the company could damage its credit profile if they’re largely debt-funded, and its leverage ratio of pro-forma net debt to Ebitda could worsen past the current four times, CreditSights analysts wrote in the report. For share investors, Adani companies’ growth prospects are key. Citigroup Inc analysts pointed to Adani Ports’ increasing dominance in India’s port sector and strong operating performance, in a report this month. Adani Ports’ leading market position and strong financial management could buttress its balance sheet against short-term volume setbacks, and it may be able to maintain capital spending, investment and a 20% to 25% payout target via dividends and buybacks, Bloomberg Intelligence analysts Denise Wong and Sharon Chen wrote in a report last week. Bullishness toward Adani Ports has resulted in its stock trading at 25 times its one-year forward profit, making it among the most richly valued port stocks in Asia, according to Bloomberg-compiled data. — Bloomberg Article type: free

Citigroup Investments

154 Investments

Citigroup has made 154 investments. Their latest investment was in AccessFintech as part of their Series C on September 9, 2022.

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Citigroup Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/22/2022

Series C

AccessFintech

$60M

No

3

8/3/2022

Series B

MerQube

$8M

Yes

1

7/15/2022

Corporate Minority

Saipem

$592.3M

Yes

3

5/4/2022

Series B

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$99M

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10

4/19/2022

Series B

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$99M

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10

Date

9/22/2022

8/3/2022

7/15/2022

5/4/2022

4/19/2022

Round

Series C

Series B

Corporate Minority

Series B

Series B

Company

AccessFintech

MerQube

Saipem

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Amount

$60M

$8M

$592.3M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

3

1

3

10

10

Citigroup Acquisitions

22 Acquisitions

Citigroup acquired 22 companies. Their latest acquisition was Costco - Credit Card Portfolio on February 29, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/29/2016

$99M

Acquired Unit

1

2/4/2011

$99M

Acquired

2/1/2011

$99M

Acquired

1

12/1/2008

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$99M

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10

1/21/2008

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$99M

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0

Date

2/29/2016

2/4/2011

2/1/2011

12/1/2008

1/21/2008

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired Unit

Acquired

Acquired

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Sources

1

1

10

0

Citigroup Fund History

1 Fund History

Citigroup has 1 fund, including Citi Impact Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Citi Impact Fund

$200M

2

Closing Date

Fund

Citi Impact Fund

Fund Type

Status

Amount

$200M

Sources

2

Citigroup Partners & Customers

10 Partners and customers

Citigroup has 10 strategic partners and customers. Citigroup recently partnered with Booking.com on August 8, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

8/19/2022

Partner

Netherlands

Citi launches Citi Travel in partnership with Booking.com

Citi launches Citi in partnership with Booking.com

1

6/22/2022

Partner

Switzerland

Citi Partners with METACO to Develop Institutional Digital Asset Custody Capabilities

Adrien Treccani , CEO and Founder of METACO , commented , `` We are pleased to team up with Citi , one of the largest securities services firms , to support them in their vision to bridge digital and traditional assets .

6

5/27/2022

Partner

Canada

Base Carbon and Citigroup Reach Agreement With Developer of Carbon Reduction Project In Vietnam

We look forward to furthering our partnership with SIPCO as we collectively see the Project through to completion , '' said Michael Costa , Chief Executive Officer of Base Carbon Inc. .

1

4/6/2022

Client

New Zealand

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10

3/24/2022

Client

United Arab Emirates

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10

Date

8/19/2022

6/22/2022

5/27/2022

4/6/2022

3/24/2022

Type

Partner

Partner

Partner

Client

Client

Business Partner

Country

Netherlands

Switzerland

Canada

New Zealand

United Arab Emirates

News Snippet

Citi launches Citi Travel in partnership with Booking.com

Citi launches Citi in partnership with Booking.com

Citi Partners with METACO to Develop Institutional Digital Asset Custody Capabilities

Adrien Treccani , CEO and Founder of METACO , commented , `` We are pleased to team up with Citi , one of the largest securities services firms , to support them in their vision to bridge digital and traditional assets .

Base Carbon and Citigroup Reach Agreement With Developer of Carbon Reduction Project In Vietnam

We look forward to furthering our partnership with SIPCO as we collectively see the Project through to completion , '' said Michael Costa , Chief Executive Officer of Base Carbon Inc. .

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Sources

1

6

1

10

10

Citigroup Team

412 Team Members

Citigroup has 412 team members, including current Senior Vice President, Silvia Caravella.

Name

Work History

Title

Status

Silvia Caravella

BTIG, and UBS

Senior Vice President

Current

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Name

Silvia Caravella

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Work History

BTIG, and UBS

Title

Senior Vice President

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Status

Current

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