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Citigroup to close CVCI Japan office: sources

A pedestrian passes a logo of Citigroup in Tokyo
A pedestrian passes a logo of Citigroup in Tokyo

TOKYO (Reuters) - Citigroup will close its Japan office for Citi Venture Capital International as the high-growth focused fund management firm has failed to find any attractive investments, two people with direct knowledge of the closure said.

Citi Venture Capital International, which manages $7 billion in equity investments and committed capital, opened its Japan office in September 2006.

A Tokyo-based Citigroup spokeswoman declined to comment.

CVCI has been active in other parts of Asia and investments include India's BGR energy Systems , a power projects firm, and Belgium-based Hansen Transmissions International NV which also has operations in India, according to its website.

This month CVCI invested in Israel's Ness Technologies Inc , an information technology service provider, for about $307 million in cash.

(Reporting by Junko Fujita; Editing by Edwina Gibbs)

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