Sat, Sep 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Citi appointed by Dorchester Capital to provide fund administration and custody services for alternative fund of funds

Thursday, January 12, 2012
Opalesque Industry Update: Citi today announced that it has been appointed by Dorchester Capital Advisors International, LLC (“Dorchester”) to provide fund administration and custody for Dorchester Capital International Limited, its fund of hedge funds. This new mandate extends a long-standing relationship with Citi.

“We selected Citi to consolidate more of our business because we have been continually impressed by the depth of Citi’s expertise with alternative funds and its broad range of administration, custody and capital markets capabilities,” said Craig T. Carlson, Chief Financial Officer at Dorchester Capital. “With Citi, we know that we can draw upon deep bench strength to support our ability to innovate, bring new products to market and continue to grow our business.”

As alternative investment continues to grow, investors are demanding greater transparency, more robust administrative support and a seamless combination of services. Citi’s alternative fund of funds service platform helps clients to establish a more efficient, informed and effective investment process – from risk management tools, research, custody and middle office services to analytics and administrative reporting.

“We are very pleased to strengthen our relationship with Dorchester, who is a leading manager in the alternative space,” said Bob Wallace, Head of North America for Securities and Fund Services, Citi. “We look forward to continuing to support Dorchester’s growth by delivering end-to-end fund of hedge fund solutions that help improve transparency and create cost and operational efficiencies.”

Citi provides a complete range of services to alternative managers that include middle office, fund administration, custody and investing and financing solutions.

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 $12.5 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 organizations 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 third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali