Digital wealth management platform YieldStreet has struck a deal with Citi to make the bank's credit investments available to retail investors.
The partnership will see YieldStreet users get access to investment opportunities across private credit markets, including real estate, shipping and telecommunications.
YieldStreet, which has originated more than $1.2 billion of investment opportunities since launching in 2015, says the Citi tie-up will enable it to respond to growing customer demand. About $2 billion of assets will be made available on the platform over two years, according to Bloomberg.
Citi is backing the partnership through its Spread Product Investment Technologies (Sprint) unit, which was created in 2018 with a focus on partnering with firms looking to reshape the $40 trillion debt and private credit markets.
“We have always regarded YieldStreet as an innovative platform in the market, bringing institutional-style investments to a broad audience,” says Matt Zhang, Head, Sprint, Citi. “We’re really excited to partner with the YieldStreet team and believe there is a tremendous opportunity for us to scale our relationship together.”