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)