Citi has surpassed US$500 billion in alternative assets under administration, affirming its leadership as major fund administrator in the alternative asset management industry.
The US$500 billion figure includes over US$300 billion in Hedge Fund assets under administration, and over US$200 billion of committed Private Equity capital under administration.
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Mike Sleightholme, global head of hedge fund services, and Joe Patellaro, global head of private equity services, in a joint statement, said: "Our leading solutions across the hedge fund and private equity asset classes have positioned us well to capitalize on the ever increasing trend towards convergence of styles in alternative asset management.
"As institutional investors continue to demand more operational capabilities from their alternatives managers, Citi is there to provide superior solutions across our global platform. These factors have been a growth engine for our businesses," Sleightholme and Patellaro added.
Citi also launched its private equity services in Luxembourg through a Centre of Excellence for closed-ended funds, allowing the bank to provide end-to-end private equity servicing solutions in the growing Europe, Middle East and Africa (EMEA) market.
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