Group 1 - David A. Johnson is the founder and principal of Endurance Capital Management, a New Jersey Limited Liability Company, with over 30 years of experience in investing [1] - The investment strategy includes stocks, bonds, options, ETFs, REITs, real estate, closed-end funds, hedge funds, and private credit [1] - David holds a Master of Science (MS) Degree in Finance, a Certificate in Financial Planning, and an MBA from Fordham University [1]

Group 1: Core Transaction Details - Citigroup Inc. has agreed to divest Citi Global Alternatives to iCapital, aiming to simplify its business operations [1] - Citi Global Alternatives manages over 180 funds globally, covering various alternative investment strategies such as private equity, venture capital, and hedge funds [2] - iCapital will take over the management and operation of the fund platform, while Citigroup will continue to distribute the funds and provide client supervision [3] Group 2: Strategic Implications - The acquisition will enhance iCapital's global sales capabilities with a dedicated team focused on alternative investments, providing more resources for advisors [4] - Citigroup's previous efforts to simplify its business include separating its institutional banking from consumer operations in Mexico and planning an IPO for its consumer banking segment [5] - In September 2024, Citigroup divested its Citi Trust business for $80 million, aligning with its strategy to concentrate resources on growth areas in wealth management [6] Group 3: Market Performance - Citigroup's stock has increased by 11.6% over the past six months, outperforming the industry growth of 4.6% [7]