Daily News: March 20, 2013

Citi Venture Capital Invests in SourceHOV


SourceHOV, a provider of business and knowledge process outsourcing solutions, announced that Citi Venture Capital International (CVCI Private Equity) is investing in the company as a new equity partner with HOVS LLC (HandsOn).

The transaction contemplates that CVCI Private Equity will purchase all of the ownership interests of affiliates of Apollo Global Management (Apollo) and certain minority holders’ in SourceHOV. Credit Suisse served as financial advisor to Apollo in connection with the transaction. Terms were not disclosed.

This new HandsOn and CVCI Private Equity partnership positions the company for accelerated growth through industry leading advisory formed by a tenured investment team with specialized technology and service industry experience.

CVCI Private Equity manages over $7 billion in equity investments and committed capital.