Citi to provide fund administration for Crabel

Citi to provide fund administration for Crabel

Citi has been awarded a mandate by Crabel Capital Management to provide a portfolio of hedge fund administration services.

Citi will be delivering portfolio accounting, fund administration, monthly NAVs, daily P&L and weekly and month-end estimated NAVs.

“As we manage to the next level of development for our business, we realized we needed to outsource these operational functions so that we could concentrate on our profitable growth. Citi was the ideal partner for our future growth and has the capacity to take on our high volume business,” says Kathryn Daley, chief operating officer, Crabel Capital Management. “After we conducted a competitive review of third-party providers, we awarded the mandate to Citi because of the quality of its integrated systems and automated operating platform that will improve our overall operating efficiency, minimise our risk and control our costs.”

“We are very pleased that Crabel, a leader in the unique short term managed futures space, has selected us to provide this suite of administrative solutions to support their continued success,” adds Neeraj Sahai (pictured), global head of securities and fund services, Citi. “Now, with Citi managing these operational responsibilities, Crabel’s managers can concentrate on what they do best: develop their business, manage their investment portfolios and provide premier service to their investors.”

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.

Crabel Capital Management is a global alternative investment firm specialising in the development and trading of a portfolio of short term for qualified investors.

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