GLOBAL - Citigroup has launched Ivaldi Capital, a platform designed to cater for the increasing demand for "alpha-generating investments" by pension funds, endowments and sovereign wealth funds.

The platform will also provide a suite of middle-office services, with Citigroup acting as a prime broker, administrator and custodian

Nick Roe, global head of prime finance, said: "This is the only platform providing a comprehensive solution for institutional investors interested in accessing alpha-generating investments, but lacking the necessary infrastructure to support them."

Ivaldi, which was formed by former Citigroup employees, will be based in London but it aims to establish a presence in Asia and the US

The company undertook a full-ranging, external due diligence and tender process and has launched with €400m of assets from its seed investors.

Citigroup owns a minority stake in Ivaldi, but is not providing any investment capital.