How Citi’s PE ‘Club’ Underwhelmed Billionaire Members, Led to Lawsuits

What You Need To Know

• The experiment has ended with a bitter legal battle tied to the pitfalls of marketing private assets.
• Gaining more investment dollars is a key aim of a fresh revamp of Citi’s wealth unit under new head Andy Sieg.
• Firms like Blackstone and KKR are making an even bigger push to tap wealthy individuals.