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Laxman Pai, Opalesque Asia: The Citco Group of Companies, a provider of asset servicing solutions to the global alternative investment industry, has passed the $1tn mark for assets under management.
The provider of financial products and services to hedge funds claimed in a press release that the milestone was reached purely through organic growth, an industry first amongst alternative asset service providers.
"As a private company focused on servicing alternative investment firms, and with the support of our ownership, the Smeets family - who founded the business in 1948 - we have been able to adopt a long-term mindset when it comes to investing in our people and proprietary technology," says Jay Peller, Head of Fund Services at Citco.
"As the regulatory framework increases in complexity, the investors demand heightened levels of transparency from managers," he added.
Citco's in-house team of technologists developed products (Æxeo Technology, Æxeo Investor, CitcoOne, Citco Waterfall, CitcoConnect) with the latest advancements in cloud-based technology, to produce commercially available software, said the release.
In November 2018, Citco launched Æxeo Treasury, an inaugural "born-on-the-cloud" solution that gives alternative fund managers a state-of-art method of managing treasury functions through a SaaS tool running on Amazon Web Services (AWS), it said.
Citco currently operates across North America, Europe and Asia, with specialized teams...................... To view our full article Click here
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