Citi has been appointed to provide a comprehensive suite of back- and middle-office hedge fund administration services for four Eos Credit Funds. The services include bank loan administration, document management, and loan portfolio analytics.
This latest mandate adds to Citi’s existing portfolio of USD65 billion in bank loan assets under administration and custody.
“Following our review of service providers, we selected Citi because of market expertise and the comprehensive range of services it provides,” says Jay Appel, Director of Operations for the Eos Credit Funds. “We were especially impressed by Citi’s depth of experience in the bank loan space.”
Bob Wallace, North America Head of Securities and Fund Services, Citi, says: “Eos has extensive experience with credit and syndicated bank loans across both hedge funds and private equity. Citi specialises in this space, and we are pleased Eos has selected us. It is a testament to the quality our solution brings to the marketplace.”
Citi provides credit hedge fund managers with a comprehensive suite of integrated end-to-end middle and back office services spanning the entire post-execution lifecycle. The offerings are designed from a fund manager’s standpoint to help diversify counterparty risk, gain more frequent 3rd party verification of their holdings and valuations, and ultimately focus more of their professional, financial and technological resources on making investment decisions and provide more transparency to investors.
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With USD12.6 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organisations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2010, it held on average USD353 billion in liability balances and USD12.6 trillion in assets under custody.