(Updated with stock price moves, Cuomo settlement with Citigroup, SunTrust ratings change.)
Citigroup plans to sell or split off its $10 billion Citi Private Equity unit as part of the bank's effort to reduce debt, according to a Bloomberg report. The unit's managers have discussed buying Citi Private Equity themselves along with new partners or with other financing, the report said.
Bloomberg also reports that other money-management units marked for sale or closure include the Citi Property Investors real-estate unit, which oversees $12.5 billion, and the Hedge Fund Management Group, which allocates money to hedge funds on behalf of its own investors.
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