Citco’s Full-Service Solution Supports Leading Private Equity Firm in Time of Rapid Fund Growth and Strategy Diversification
The Citco Group of Companies (“Citco”), a leading provider of asset servicing solutions to the global alternative investment industry, today confirmed its on-boarding of additional commitments from longstanding client EQT, a leading global investment firm with more than €50 billion in raised capital across 28 funds. The additional commitments were driven by an increase in fund size, significant co-investment activity and broadening of strategies. To enable this expansion, amongst other things, Citco launched its center of excellence for Private Equity investor services and created a dedicated team to manage integrations and support strategic changes by clients through process enhancement initiatives and implementation of customized technology solutions.
Citco provides a full suite of asset servicing and related solutions to EQT’s portfolio of funds and special purpose vehicles, including administration of around €15 billion in new capital commitments across 3 new funds closed during 2018.
The Citco full-service solution provided to EQT since 2014 covers asset servicing, fund administration, fund accounting, corporate secretarial, fund performance reporting, treasury and related needs across its private equity, infrastructure, real estate, private credit, ventures and recently-launched mid-cap public equity funds.
EQT is also an early adopter of Citco’s recently launched Æxeo Treasury, a software-as-a-service offering, to simplify the firm’s day-to-day banking operations and relationships. Citco’s first ‘born-in- the-cloud’ solution, Æxeo Treasury is a stand-alone tool that enables alternative fund managers to improve operational efficiencies by centralizing their treasury functions - including funding investments, settling OTC trades and margin, making transfers between accounts or paying invoices – on a secure state-of-the-art module running on Amazon Web Services.
Patrik Burnäs, Group Head of Fund Operations at EQT, said: “Citco’s experienced staff and technology-based solutions are a seamless extension of our own capabilities, helping EQT to deliver the operational efficiency required to invest across asset classes and geographies. Citco’s deep industry expertise, investments in well working digital solutions and global reach make it an ideal partner to support EQT’s growth and development ambitions.”
Nikolaos Perros, Head of Private Equity fund services at Citco, said: “We are proud of our long-term relationship with EQT, which is well-established as one of the world’s leading private equity firms. EQT’s remarkable growth in recent years reflects a wider trend in the industry in which the most successful players are deploying larger funds across a broader canvas of investment opportunities globally. We at Citco have developed the service capabilities – including people, processes and technologies – to support the administration needs of these mega-funds, with speed, efficiency and at scale.”
Citco will launch a white paper in Q1 2019 highlighting the growth of global ‘mega funds’ in the alternative asset management sector, addressing specifically the challenges of size, scale and complexity faced by industry-leading firms as well as the potential rewards of working with the right partner in solving those challenges. The paper will draw on the insights and experiences of leading practitioners from across the sector, supported by industry data and analytics. To register your interest in receiving news about the publication, please email email@example.com.
The Citco Group of Companies (Citco) is a leading provider of asset servicing solutions to the global alternative investment industry. With over $1 Trillion in assets under administration and 6,500 staff deployed across 40 countries, Citco’s unique culture of innovation and client driven solutions has provided Citco’s clients with a trusted partner for more than four decades. Having grown organically into one of the largest asset servicers in the industry, Citco’s Fund Services division offers a full suite of Middle Office and Back Office services including, treasury and loan handling, daily NAV calculations and investor services, corporate and legal services, regulatory and risk reporting as well as tax and financial reporting services. Investing heavily in innovation and technology whilst further developing its current suite of client friendly solutions, Citco will continue into the future as a flagbearer for the asset servicing industry.
+44 20 3040 0871
+44 20 3040 0874
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Concierge Auctions and Engel & Völkers to Sell $29.9 Million New Jersey Estate Without Reserve20.5.2019 17:32:00 CEST | Pressemelding
A 32,507-square-foot Saddle River residence will sell at auction next month via leading global firm Concierge Auctions. Known as “Stone Palace on the Hill,” the home features a glass elevator, tennis court, racquetball court, wine cellar, and two swimming pools. 144 East Saddle River Road was previously listed for $29.9 million and will sell Without Reserve in cooperation with Alina Pogorelova and Lisa Troyano-Ascolese of Engel & Völkers. Bidding, which will be held via Concierge Auctions’ online marketplace, will open on June 21st and close on June 27. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190520005686/en/ 144 East Saddle River Road | New York Metro, NJ (Photo: Business Wire) “The quality of work and detail that went into building this home is perhaps the most impressive element of the property,” said Troyano-Ascolese. “With astounding details from custom gold-plated and forged-iron railings to a complete hand-cut
CNIM to Optimize Renewable Heat Production for Nantes District Heating20.5.2019 17:20:00 CEST | Pressemelding
CNIM, a French international industrial equipment manufacturer and integrator, has entered into an agreement concerning the energy efficiency optimisation at the waste-to-energy plant serving the cities of Nantes and Saint Nazaire, in the North West of France. Under the terms of this agreement, CNIM will install an absorption heat pump to boost the supply of hot water to Nantes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190520005678/en/ Heat-Pump_13MW_Brive (c) CNIM The delivery is scheduled for October 2019. The new system has been designed to inject 3.1 MW of heat energy into Nantes' district heating system. 2018: Two contracts to upgrade heat networks in France and Switzerland Prior to this agreement, CNIM won two other major contracts to upgrade the energy efficiency of waste-to-energy plants in France and Switzerland, and to supply district heating networks with renewable energy. Supplying 30 MW to Basel's district
MyHeritage utvides til Helse; Lanserer ny DNA-test som tilbyr omfattende og personlig helseinnsikt for forbrukere20.5.2019 17:15:00 CEST | Pressemelding
MyHeritage, den ledende globale tjenesten for familiehistorie og DNA-testing, kunngjorde i dag en stor utvidelse av DNA-produktlinjen med lanseringen av MyHeritage DNA Helse+Aner-testen. Testen gir en ny dimensjon av genetisk innsikt med omfattende helserapporter som kan styrke fremtidige helse- og livsstilsvalg. Det er en utvidelse av den nåværende MyHeritage DNA-testen, og inkluderer sine søylefunksjoner: en prosentvis nedbryting av etnisk opprinnelse og samsvar med slektninger gjennom delt DNA. MyHeritage er nå det eneste globale DNA-selskapet for forbrukere som tilbyr et omfattende helse- og aneprodukt på over 40 språk. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20190520005670/no/ MyHeritage utvides til Helse; Lanserer ny DNA-test som tilbyr omfattende og personlig helseinnsikt for forbrukere (Graphic: Business Wire) Lanseringen av Helse+Aner-produktet skiller MyHeritage som den eneste hovedtjenesten som forbinde
Phase III study showed nintedanib slows the loss of pulmonary function in people living with systemic sclerosis associated ILD120.5.2019 16:46:00 CEST | Pressemelding
Boehringer Ingelheim today announced that the SENSCIS® trial met its primary endpoint: reduction in the annual rate of decline in forced vital capacity (FVCa) in patients with systemic sclerosis associated interstitial lung disease (SSc-ILD). Results show that nintedanib slows the loss of pulmonary function in patients with SSc-ILD compared to placebo. Patients taking nintedanib showed a 44% reduction in the rate of decline of their lung function, measured in FVC assessed over 52 weeks1. These new data were today published in the New England Journal of Medicine (NEJM) and presented to the medical community at the American Thoracic Society (ATS) International Conference, in Dallas, USA. SENSCIS® is the largest randomised controlled trial to be conducted in patients with SSc-ILD, a disease for which there are currently no approved treatments.1,3,4 Results also showed that nintedanib had a safety and tolerability profile similar to that observed in patients with idiopathic pulmonary fibro
Airship Bolsters its Senior Leadership Team for Accelerated Global Growth20.5.2019 13:00:00 CEST | Pressemelding
Customer engagement company Airship today announced four senior leadership appointments including Dale Flores as vice president of sales Americas, Neil Gariepy as vice president of infrastructure and security, David King Harris as vice president of sales EMEA, and Jeff Winsor as vice president of technology services. Dale Flores will lead the rapid expansion of Airship’s Americas sales organization, growing solution adoption to generate greater business value for customers throughout the region. Flores brings two decades of global SaaS sales and customer success management experience to Airship, including over 14 years leading sales teams at Silverpop and IBM. Most recently, Flores was head of customer success at digital customer experience company Clicktale. Neil Gariepy will lead Airship’s customer engineering, infrastructure and security teams, with responsibility for expanding Airship’s infrastructure globally while further optimizing its cost, performance and security. Gariepy bri
Analogix Introduces Its VirtualLink™ Reference Design for High-Performance Gaming Notebooks20.5.2019 13:00:00 CEST | Pressemelding
Analogix Semiconductor, Inc. today announced the availability of its VirtualLink™ Reference Design which enables VirtualLink directly on the motherboard of high-performance gaming notebooks, allowing them to support virtual reality (VR) over the USB-C™ connector. External accessories can also leverage the reference design to interface legacy graphics processing units (GPUs) to future VirtualLink-enabled VR head-mounted displays. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190520005132/en/ Analogix VirtualLink™ Reference Design brings VR support over the USB-C™ connector to high-performance gaming laptops. (Graphic: Business Wire) Introduced by a consortium led by NVIDIA, Oculus, Valve, AMD, and Microsoft, the VirtualLink Alternate Mode of USB Type-C™ was designed to deliver the power, display, and data required to power VR headsets through a single USB Type-C connector, eliminating the need for multiple cables. It expands