Citibank has started to market close-ended funds. Initially the bank will only offer unlisted real estate funds, as well as limited movie and vessel partnerships. Cooperation agreements have been signed with Jamestown, the initiator of close-ended US real estate funds, with MPC Capital AG and with Geno Asset Finance, already a Citigroup company.
The individual funds require a minimum investment of EUR 10,000 and are running from seven to twenty years. Clients are individuals with assets totalling more than EUR 60,000.