Bad Day For Placement Agents: Citi, William Blair Close Their Doors
Hope this isn’t a sign of things to come. With depressingly perfect timing, news of the State of New York’s “ban” on placement agents broke just after we read that two placement agencies would close their doors. This morning’s issue of Private Equity Insider states the placement agent businesses of both William Blair and Citigroup have shuttered their fundraising practices. The publication reported that former William Blair placement agents plan to continue to work together, possibly through creating a new fund marketing firm. Emails to professionals within William Blair’s practice were bounced back. UPDATE: A William Blair representative confirmed the business was closed.
22 April 2009•2 mins read
