|
|
 | | | |
- close
- close
- close
- close
These excerpts taken from the C 10-Q filed Aug 3, 2007. Total proprietary revenues, net of interest expense,
for the second quarter of 2007 of $910 million, were composed of revenues from
private equity of $711 million, hedge funds of $119 million and other
investment activity of $80 million. Private
equity revenue increased $195 million from the 2006
second quarter, primarily driven by higher realized and unrealized gains. Hedge fund revenue improved by $162
million, largely due to a higher investment performance. Other investment
activities revenue increased $66 million from the 2006 second quarter, largely
due to realized and unrealized real estate gains and the mark-to-market value
on Citigroup’s investments. Client revenues increased $25 million, reflecting increased
management fees from a 55% growth in average client capital under management.
Operating expenses in the second quarter of 2007 of $215 million increased $16 million from the second quarter of 2006, primarily due to increased performance-driven compensation and higher employee-related expenses. Total proprietary revenues, net of interest
expense, for the
first six months of 2007 of $1.346 billion, were composed of
revenues from private equity of $1.072 billion, hedge funds of $166
million and other investment activity of $108 million. Private
equity revenue increased $343 million from the first
six months of 2006, primarily driven by higher realized and unrealized gains. Hedge fund revenue increased $102
million, largely due to higher investment performance on an increased asset
base. Other investment activities revenue decreased $170 million from the first
six months of 2006, largely due to the absence of gains from the liquidation
during 2006 of Citigroup’s investment in St. Paul shares. Client
revenues increased $60 million, reflecting increased management fees
from a 53% growth in average client capital under management.
Operating expenses in the first six months of 2007 of $395 million increased $15 million from the first six months of 2006, primarily due to increased performance-driven compensation and higher employee-related expenses. | EXCERPTS ON THIS PAGE:
RELATED TOPICS for C: |
| |||||||
