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Citi Alternative Investment LLC has sold three hedge fund business units—a fund-of-hedge funds, hedge fund seeding and hedge fund advisory businesses with a collective $4.2 billion of assets under management—to Skybridge Capital, a New York-based hedge fund incubator. The price of the deal was not disclosed.

One defendant claimed he didn’t know his associate’s last name because “you do not ask a comrade for a last name.”

For many boomers, unemployment is a reality they haven’t faced in decades.

Fidelity persists on path to nabbing more 401(k) assets, this time offering RIAs an all-in-one package to sell to their business clients.

Assets under supervision ($1.7 trillion) and assets under management ($1.2 trillion) increased 17% and 9%, respectively. The company attributed these gains to “the effect of higher market levels and inflows in fixed income and equity products offset largely by outflows in liquidity products.”

The three business units — a fund of hedge funds, hedge fund seeding and hedge fund advisory businesses — are from Citi Alternative Investment LLC and collectively have $4.2 billion of assets under management.

But drop in sales charges offsets rise in expenses in 2009, the ICI said.

Build America Bond transaction participants are debating whether they need to do more to track BAB prices to avoid running afoul of statutory premium restrictions and jeopardizing the issuer’s subsidy payments or to respond to an Internal Revenue Service compliance check.

Moelis & Co. said on Tuesday it hired John Collins, a general industrial company specialist, as a managing director.

Democrats and Republicans escalated the war of words over regulatory reform on Tuesday, with the GOP saying the current bill is unacceptable and the White House objecting to any compromise.

Four years after the Federal Deposit Insurance Corp. launched an elaborate deposit insurance pricing system, the agency has gone back to the drawing board.

Despite a turnaround in the stock market and signs of recovery, a new survey by Citigroup revealed that American consumers still feel pessimistic about the economy, both nationally and locally.

Amid concerns over inflation and growing investors appetite for non-correlated asset classes, American Century has introduced the Strategic Inflation Opportunities Fund. Using fixed income and quantitative equity strategies, the fund invests in U.S. inflation-indexed securities, commodity-related investments and non-U.S. dollar investments.

Despite the potential heavy burden that long-term care costs could place on many Americans during retirement, very few have actually planned for it, according to a survey by Genworth Financial.

Retirement nest eggs are climbing back after suffering through the recession. Assets held in retirement accounts rose 18% from a year earlier to $9.3 trillion as of Dec. 31, according to Spectrem Group.

At MetLife’s sixth annual benefits symposium in Washington this week, Treasury and Department of Labor officials discussed the difficulties of including annuities in 401(k)s. The two agencies have asked the public for comments through May 3 on including lifetime income solutions in employer plans.

The Financial Industry Regulatory Authority has told 50 leading bond mutual fund companies to remove credit ratings on their holdings from advertisements, marketing materials and websites.

A recent study indicates that taxes on the rich have declined significantly while remaining the same on the middle class. Oddly, not all wealthy people are happy about this development.

The Securities and Exchange Commission has proposed significant revisions to Regulation AB and other rules regarding the offering process, disclosure and reporting for ABS. The 5-0 vote Friday morning counts the SEC as an added player in the huge push coming from various regulators for more “skin-in-the-game” by ABS issuers.

Despite the potential heavy burden that long-term care could place on many Americans during retirement, very few have actually planned for it, according to a survey by Genworth Financial.