Gulf SWFs May Fail To Save Troubled Citigroup - DIC CEO

DUBAI (Zawya Dow Jones)--Mideast sovereign wealth funds and investors may failin their bid to save troubled U.S. banking giant Citigroup Inc. (C), the head ofa $13 billion Dubai investment company said Tuesday.

Sameer Al Ansari, Chief Executive of Dubai International Capital tolddelegates at a private equity conference that it will take more than thecombined efforts of the Abu Dhabi Investment Authority, the Kuwait InvestmentAuthority and Saudi investor Prince Alwaleed bin Talal to save the bank.

"It's going to take more than that to rescue Citi," Ansari said.

The Abu Dhabi Investment Authority, a sovereign wealth fund owned by theworld's fourth-largest oil exporter, last year bought a 4.9% stake in Citigroup .

The Kuwait Investment Authority also said in January it would invest $3billion in Citigroup .

-By Mirna Sleiman, Dow Jones Newswires, +9714 364 4966, mirna.sleiman@dowjones.com

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(END) Dow Jones Newswires 03-04-08 0217ET