In the News: Recent Developments

Saber Partners, LLC assisted the State of Hawaii in its negotiations with Citigroup Inc. and Citigroup Global Markets Inc. regarding approximately $1 billion of the then illiquid investments (auction rate securities (ARS)) purchased from Citigroup for the State’s pension fund as “cash equivalents” when they were not.  The State’s fund purchased the securities during the financial crisis in 2007-2008.  Saber Partners advised the State from the beginning of the negotiations in August 2010 to their successful conclusion in November 2010.