A team of partners from Citigroup Infrastructure Investors (CII) is reported to have left the bank following the expiration of the investment period for the fund.

New York-based co-head Felicity Gates, John-George Duthie-Jackson, a partner in the London office, and Colin Campbell, a partner in the Sydney office, are the three top executives that could have abandoned the firm, according to sources.

Another source said that Citi Infrastructure Investors' partners had left and that co-head Holly Koeppel and members of the bank's asset management team would continue to manage the unit's existing portfolio.

A spokesman for Citi said:

"In light of the expiration of CII's investment period in December 2012, certain employees are seeking opportunities outside of Citi. We appreciate their contribution to fund's development and wish them well. Citi has taken steps to position this business to meet its core asset management mandate and will continue to manage investments to provide long-term value for its investors."

Launched in 2007, Citi Infrastructure Investors raised $3.4 billion with Citi committing $500 million to the vehicle.

Later, CII was involved in a number of deals, including investments in Spanish toll road concession Itinere Infraestructuras (former Sacyr's unit), UK water utility Kelda and a partnership with the Vancouver Airport Authority.