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 firstname.lastname@example.org.
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
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
SCG Chemicals Company chooses gPROMS modelling for digital design and operations22.3.2019 18:55:00 EET | Tiedote
Process Systems Enterprise (PSE), the Advanced Process Modelling company, today announced that it has signed a long-term agreement with SCG, one of the largest integrated petrochemical companies in South East Asia, to standardise on PSE’s gPROMS® modelling technology for digital design and operations. SCG applies advanced process models within digital design initiatives to explore the process decision space rapidly and effectively, in order to reduce uncertainty and make better, faster and safer design and operating decisions. This help them to accelerate innovation and optimise the design and operation of their process plants. Dr Suracha Udomsak, SCG’s Emerging Business Director and R&D Director, says, “at SCG Chemicals, advanced process modelling (APM) is a key element in our Digital Manufacturing platform. APM accelerates innovation by making the development workflow ‘faster, cheaper & safer’, which are key considerations for us. It is a core technology building block that enables u
Logicor Announces Results for Year Ended 31 December 201822.3.2019 17:29:00 EET | Tiedote
Logicor announces strong financial performance for the year ended 31 December Net Operating Income (NOI): €639 million, which represents year on year growth of 2.5%, reflecting our strategic focus on increasing occupancy and capturing market rental growth. Over 60% of NOI is generated in the key markets of the UK (26%), Northern Europe1 (21%) and France (15%). Gross Asset Value: €12.5 billion, a 3.3% increase in valuation, which reflects the strong performance of our portfolio, in particular in Northern Europe. EPRA Occupancy: 94.4%, with physical occupancy up 70 bps over the year, underpinned by strong growth in each of our three largest regions of the UK (+120 bps), Northern Europe (+110 bps) and France (+220 bps). LTV: 51%, down from 52% at year end 2017 following increases in property values. At year end, our debt to EBITDA ratio was 11.3x. Capital Structure In 2018 Logicor (rated BBB (Stable) by S&P) established a Euro Medium Term Note (‘EMTN’) programme and raised €1.8 billion of
Delticom AG/Mytyres.co.uk: Buying Great Value Tyres Online Doesn’t Mean Missing out on Professional Fitting22.3.2019 17:15:00 EET | Tiedote
Spring is just around the corner, and it’s time for drivers to start thinking about changing to summer tyres. However, a tyre check may show that your current summer tyres are getting old, worn out, or have visible damage, such as cracks or bumps. If this is the case, then it's time for a new set of tyres. The legal minimum tread depth is 1.6 mm, however experts recommend significantly more – summer tyres should be replaced even if the tread depth is 3 mm. Regardless of mileage, you should change your tyres at least every eight to ten years. This is because the rubber starts to harden, the tyres lose grip on the road, and driving performance is affected. Of course, a set of four new tyres is a significant investment – authorised workshops can often charge between 250 and 350 pounds. If you want to save money, consider the alternatives: the result is an increasing number of customers turning to online shops such as Mytyres.co.uk to buy new tyres. The market share of tyres sold online ha
Trueman Man Clinic Achieves 10000 Surgery Milestone with Its SWITCH Operation22.3.2019 16:00:00 EET | Tiedote
Trueman Man Clinic Network announced that the 10,000th surgery utilizing its SWITCH Premature Ejaculation Surgery (Nerve Conservation), has been successfully completed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190322005013/en/ Trueman Man Clinic Network has been successfully completed the 10,000th surgery utilizing its SWITCH Premature Ejaculation Surgery (Nerve Conservation). The SWITCH Premature Ejaculation Surgery (SWITCH operation) developed in 2010 by Dr. Yang, the chief director of the Trueman Man Clinic Network, can reduce the side effects of penile neurectomy and maintain the stable reduction of the glans sensation. The Trueman Man Clinic Network is the leading hospitals for male enhancement surgeries in Korea consists of 11 clinics, with 16 doctors working. As of 2019, more than 43,000 man clinic surgeries have been performed. (Photo: Business Wire) The Trueman Man Clinic Network is the leading hospitals for m
Janssen Seeks Expanded Use of DARZALEX®▼ (daratumumab) Combination Therapy for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Ineligible22.3.2019 14:22:00 EET | Tiedote
The Janssen Pharmaceutical Companies of Johnson & Johnson today announced the submission of a Type II variation application to the European Medicines Agency (EMA) for DARZALEX®▼ (daratumumab) in combination with lenalidomide and dexamethasone (Rd) for the treatment of patients newly diagnosed with multiple myeloma who are ineligible for autologous stem cell transplant (ASCT). “Today’s submission brings us one step closer to our goal of improving treatment outcomes for people newly diagnosed with multiple myeloma,” said José Antonio Burón Vidal, VP Medical Affairs, Europe, Middle East and Africa (EMEA), Janssen-Cilag Limited. “We are incredibly grateful to the patients and investigators who participated in the MAIA clinical trial programme and look forward to working closely with the regulatory authorities to secure approval of this new combination.” The submission is supported by data from the Phase 3 MAIA (MMY3008) study, which were presented at the 60th Annual Meeting of the American
Bartek Ingredients Expands Leadership Team22.3.2019 01:35:00 EET | Tiedote
Bartek Ingredients Inc. recently completed a 4,000 ton/year capacity expansion for its malic and food-grade fumaric acid production facility, and today it announces the expansion of its leadership team, with the hiring of Jeff Billig as Vice President of Marketing & Business Development and Heinrich G. Schaefer as International Sales Director. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190321005785/en/ The global leader in malic and fumaric acid ingredients expands its leadership team. (Photo: Business Wire) Bartek’s investment in both its team and facilities reinforces its position as the leader in malic and fumaric acid globally and aligns with its mission to facilitate growth and increase global reach to better serve existing customers and markets while opening up new ones. Bartek’s addition of Billig and Schaefer lays the foundation for additional resource investment in the near future while rapidly increasing its sa
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme