Press release from Business Wire
Citi Surpasses $500 Billion in Alternative Assets under Administration
Thursday, September 12, 2013
Citi Surpasses $500 Billion in Alternative Assets under Administration09:00 EDT Thursday, September 12, 2013
NEW YORK (Business Wire) -- Citi has surpassed $500 billion in alternative assets under administration, affirming its leadership as one of the largest fund administrators in the alternative asset management industry.
The $500 billion figure includes over $300 billion in Hedge Fund assets under administration, and over $200 billion of committed Private Equity capital under administration.
“Our leading solutions across the hedge fund and private equity asset classes have positioned us well to capitalize on the ever increasing trend towards convergence of styles in alternative asset management,” said Mike Sleightholme, Global Head of Hedge Fund Services, and Joe Patellaro, Global Head of Private Equity Services, in a joint statement. “As institutional investors continue to demand more operational capabilities from their alternatives managers, Citi is there to provide superior solutions across our global platform. These factors have been a growth engine for our businesses.”
This is a significant milestone for Citi and shows that clients are embracing the cutting edge technology and tailored services needed to grow their businesses.
Recent hedge fund mandates awarded to Citi include Mackenzie Investments Pte. Ltd., the Singapore–based subsidiary of a leading Canadian asset manager, while recent private equity mandates include Delta Partners, a leading management advisory and investment firm.
Citi also launched its private equity services in Luxembourg through a dedicated Centre of Excellence for closed-ended funds, allowing the bank to provide end-to-end private equity servicing solutions in the growing Europe, Middle East and Africa (EMEA) market.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Nina Das, +1-212-816-9267