Bank of Nova Scotia is seeking a buyer for an investment fund backed by $500 million in loans, according to reports Thursday.

A sale of the Citadel Hill 2000 fund, run from New York, would end the Toronto-based lender’s foray into managing so- called collateralized debt obligations, or securities backed by high-yield bonds and leveraged loans, according to Bloomberg, citing anonymous sources. The bank, Canada’s third largest, hasn’t set a price, the sources said.

Withdrawing from CDOs would mark Scotiabank’s latest step away from the U.S., where in 2003 it abandoned plans to buy a consumer bank. Scotiabank generated about 12% of last year’s profit from the U.S. Chief Executive Officer Richard Waugh has said he’s looking to buy banks and insurers in countries such as Mexico, where demand for financial services is growing faster than in Canada.

Scotiabank spokeswoman Ann DeRabbie, would not comment when asked about the sale of Citadel Hill.