Citi has been awarded a mandate by Twin Haven Capital Partners to provide the alternative asset management firm with a portfolio of back- and middle-office administration services, incl
Citi has been awarded a mandate by Twin Haven Capital Partners to provide the alternative asset management firm with a portfolio of back- and middle-office administration services, including bank debt administration.
This latest mandate adds to Citi’s existing portfolio of USD65bn in bank debt assets under administration.
‘Twin Haven, whose principals are established leaders in the alternatives space, has demonstrated its investment foresight by recognizing the market opportunity that bank and distressed debt presents,’ says Mike Sleightholme, managing director, hedge fund services-North America, Citi. ‘By selecting us to deliver our comprehensive suite of solutions to support its growth, Twin Haven has strengthened our stature as the dominant service provider in bank and distressed debt and underscored our market-leading capabilities in back- and middle-office hedge fund services.’
Citi’s suite of hedge fund services comprises post-trade and pre-settlement activities, including daily trade processing, reconciliation and daily P&L reporting, in addition to OTC services, bank debt administration, collateral management, corporate actions, cash management and risk reporting. The offerings help hedge fund managers diversify counterparty risk, gain more frequent independent verification of their holdings and valuations, and focus more of their professional, financial and technological resources on making investment decisions.
Citi’s bank debt administration services are powered by Virtus Partners collateral loan administration platform which provides clients with direct access to documentation and enhanced portfolio analytics.
