Capital Markets: Team Of The Month - Citigroup SIV Enters Uncharted Space - Citigroup Alternative Investments Last Month Launched A Pioneering Structured Investment Vehicle. It Boosts Leverage To The Subordinated Noteholder Without Really Increasing The R.(structured investment vehicles) From: The Banker | Date: October 1, 2004 | COPYRIGHT 2004 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Within the careful world of structured investment vehicles (SIVs), evolution has generally taken its time. But Citigroup's latest vehicle - launched 16 years after its pioneering prototype - represents a remarkable leap forward. The team that designed it hopes it will provide a significant boost to the SIV sector, by changing the nature of the product and widening the potential investor base.

Citi's new SIV is called Sedna, after the Inuit goddess of the sea. She was a g...