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Citi chosen by Merritt Capital for fund of hedge fund administration

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Citigroup has been awarded a mandate by Merritt Capital to provide a suite of fund of hedge fund administration services.

In particular, Citi will be delivering fund accounting, fund administration and investor services.

"We were making the decision to retain an administrator for the first time and during our review of service providers we made it clear how important our investors and their requirements were to us. Citi took the time to listen to us, address our concerns and develop a program based on the best practices in the marketplace," says E. Robert Cotter, managing partner, Merritt Capital

"We are very pleased that Merritt Capital has selected us and look forward to creating the right model of administrative solutions to support their future growth," adds Neeraj Sahai, global head of securities and fund services, Citi.

Merritt Capital is a multi-strategy fund of hedge funds that launched on 1 January 2005. The fund invests with long/short equity, event driven, distressed and relative value hedge fund managers.

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