Citi Investment Arms Exit Camelot Information Systems

Citigroup Venture Capital International Growth Partnership LP and Citigroup Venture Capital International Co-Investment LP exited stakes in Camelot Information Systems Inc., a Chinese provider of financial industry IT services via a follow-on public offering. Goldman Sachs and Barclays Capital acted as book running managers and William Blair, Cowen & Co. and Oppenheimer & Co. acted as underwriters.

PRESS RELEASE:

Citigroup Venture Capital International Growth Partnership, L.P. and Citigroup Venture Capital International Co-Investment, L.P. have sold their stakes in Camelot Information Systems, Inc., a China-based provider of enterprise application services and financial industry IT services, through a follow-on public offering.

Camelot Information Systems has issued 8,234,236 American depositary shares (ADSs), including full exercise of the over-allotment option by underwriters, at $19.50 per ADS for total gross proceeds of $160.56 million.

Citigroup Venture Capital International and Citigroup Venture Capital International Growth Partnership are UK-based private equity investment funds.

Update on December 9, 2010:
Citigroup Venture Capital International Growth Partnership and Citigroup Venture Capital International are planning to sell their stake in Camelot Information Systems through a follow-on public offering.
Announcement (November 24, 2010):

Camelot Information Systems has filed a registration statement with the US Securities and Exchange Commission for public offering of 7,160,206 ADSs by pre-IPO financial investors.

Goldman Sachs (Asia) L.L.C. and Barclays Capital, Inc. are acting as book running managers, while William Blair & Company, LLC, Cowen and Company, LLC and Oppenheimer & Co., Inc. are acting as underwriters for the offering.