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The Citco Group of Companies (Citco), a provider of asset servicing solutions to the global alternative investment industry, has passed the USD1 trillion mark for assets under management.
Citco says the milestone was reached purely through organic growth, an industry first amongst alternative asset service providers.
The growing drive to streamline operations is leading managers to outsource more functions, including: front office risk reporting, middle office treasury and collateral management, back office financial statements, and tax and regulatory reporting. Simultaneously, growing diversification across asset classes, moves into hybrid strategies and the launch of a wide range of investment vehicles
Northern Trust has named Kimberly Evans as head of Private Capital Fund Administration in North America, leading a growing practice dedicated to providing middle- and back-office solutions for a range of alternative asset class investment managers, including real estate, private debt, infrastructure and both traditional and hybrid private equity funds in the region.
Evans, with 25 years of financial services experience, will focus Northern Trust’s global capabilities on a segment of the alternatives market experiencing rapid asset growth and increased demands for transparency. Northern Trust offers an integrated solution including trade management, reconciliation, risk and analytics, fund accounting, global custody
American credit specialist CIFC has launched a UCITS fund as it builds its presence in Europe. The CIFC Global Floating Rate Credit Fund opens up access to the firm’s structured credit expertise for the first time in a UCITS format.
The fund will invest in some of the more liquid tranches of collateralised loan obligation (CLO) bonds, investing at least half of its funds in BBB-rated bonds.
The fund, which has launched with commitments of over GBP50 million, is managed by structured credit veteran Jay Huang and is targeting a return of 7-8 per cent pa.
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Trillium announced today that leading futures broker Wedbush Futures will now use Trillium’s Surveyor platform for trade surveillance.
“I have worked with several surveillance products over the last couple of years and I am truly impressed with the seamless on-boarding process. We are fortunate to work with Trillium,” says Scott Lamm (pictured), VP of Surveillance, Business Conduct at Wedbush Futures.
“We welcome Wedbush Futures to our growing Surveyor customer base and share in their excitement about this partnership. Surveyor offers its users next-generation detection, visualisation, and workflow functionality to keep up with the demands of current-day trade surveillance. All
Thalēs has appointed David Modiano as Managing Director of its Capital Strategies group. In his new role, he will be based out of New York and will report to Edouard Robbes, President of Thalēs Capital Partners.
Most recently Modiano (pictured), was a Partner and Head of Business Development at Mill Hill Capital, a New York-based credit hedge fund. Prior to that, he spent ten years combined at Investcorp and Lyxor Asset Management where he was second in command in their hedge fund seeding teams.
“David brings a unique perspective and a track record of success in the industry which will be
MUFG Investor Services, the global asset-servicing arm of Mitsubishi UFJ Financial Group, has appointed Daniel McNamara as Chief Strategy Officer to support and shape MUFG Investor Services’ long-term growth plan.
He will be based in London and will report to John Sergides, Chief Executive Officer of MUFG Investor Services.
McNamara (pictured), will have oversight of the six lines of business within MUFG Investor Services, focusing on the use of capital and resources across these business lines, overseeing the delivery of new client solutions, and developing a set of standards and best practices regarding products and services in order to
The Bermuda Monetary Authority (BMA) has recorded a year-on-year increase in new re-insurance registrations, from 58 in 2017 to 75 in 2018.
The greatest year-on-year growth was experienced by Bermuda’s commercial re-insurance sector, ie Class 3A, 3B, 4 general business and Class C, D, E long-term re-insurers; 28 new commercial re-insurers were registered by the BMA in 2018, compared to 17 in 2017. In addition, the growth of Bermuda’s captive re-insurance sector continued its momentum; 19 new captives, ie Class 1, 2, 3 general business and Class A, B long-term re-insurers were registered in 2018, compared to 17 in 2017.
Lazard Asset Management (LAM) has appointed Jennifer Anderson and Nikita Singhal as Co-Heads of Sustainable Investment and ESG (environmental, social and governance). Anderson and Singhal are based in London and New York, respectively.
“Our investment teams have been focused on evaluating ESG characteristics of investments for more than a decade,” says Ashish Bhutani, CEO of LAM. “We are pleased to have Jenny and Nikita on board, working closely with our analysts to continue to advance our long-standing efforts to integrate ESG considerations into our research and portfolio management capabilities across the business.”
Anderson has served as a board director
By Roger Woolman, Business Development Director, Asset Management & Alternatives, SS&C Advent – Dual-authorised “Super ManCos” are an ever growing force in the EU investment management industry. Intense competition between asset managers, compressed margins, and the search for investors and investment returns are one factor, as they continue to reduce the barriers between the traditional and alternative investment worlds. Then there is the uncertainty surrounding Brexit, and investment firms’ scramble to retain access to the European Single Market.
In this environment, it is easy to see why the expanding breed of EEA-domiciled management companies (ManCos) able to provide cross-border support for
In 2017, investors allocated almost USD120 billion into private debt funds, on the back of approximately USD100 billion being raised in 2015 and 2016. To better understand the context into which investors are deploying such large amounts of capital, SEI and Preqin conducted a survey of private debt fund managers in mid-2018.
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