Industry Updates

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

Thursday, January 12, 2012

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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.

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