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 email@example.com.
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
Knopp Biosciences Presents Positive Preclinical Data for Lead Neonatal Epilepsy Drug Candidate at 2019 Antiepileptic Drug and Device Trials XV Conference24.5.2019 17:00:00 EEST | Tiedote
Knopp Biosciences LLC, a privately held drug discovery and development company focused on delivering breakthrough treatments for inflammatory and neurological diseases of high unmet need, today presented in vitro and in vivo data for the company’s lead molecule for the targeted treatment of KCNQ2-neonatal epileptic encephalopathy (KCNQ2-NEE) at the Antiepileptic Drug and Device Trials XV Conference in Miami, Florida. KCNQ2-NEE, a rare infant genetic epilepsy, results from mutations in genes encoding the Kv7.2/Kv7.3 ion channel, leading to frequent seizures and profound developmental delay. The preclinical data were presented by Steven Dworetzky, Ph.D., Knopp’s Chief Scientific Officer, a longtime Kv7 researcher who led the group that first cloned the Kv7.2 and Kv7.3 genes during his former tenure with the Bristol-Myers Squibb Co. Dr. Dworetzky presented results demonstrating the in vitro nanomolar activity of KB-3061 and its significant seizure protection in the maximal electroshock mo
Accelerate Your Business in South Korea Through 2019 K-Startup Grand Challenge24.5.2019 13:20:00 EEST | Tiedote
Entrepreneurs from across the globe should set their sights on participating in the 2019 K-Startup Grand Challenge. Supported by the Ministry of SMEs and Startups and National IT Industry Promotion Agency (NIPA) of South Korea, the initiative provides invaluable support and comprehensive resources to early age startups. Applications for the K-Startup Grand Challenge are currently being accepted through June 14, 2019. In order to advance in the program, teams must pass a regional audition. A judging panel of startup ecosystem experts and Korean accelerators will select 40 teams to participate in an enriching 3.5 month-long acceleration program in Korea. The selected teams will have exclusive access to free office space at the Startup Campus in Pangyo Techno Valley, one-on-one mentoring, information sessions, coaching on Korean and Asian business culture and the chance to attend insightful seminars on accounting regulations to tax laws, patents and more. Opportunities for networking with
New Investigational Clinical Data for Ipsen’s Oncology Products in 11 Solid Tumor Types to Be Presented at 2019 ASCO Annual Meeting24.5.2019 08:00:00 EEST | Tiedote
Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced that new data from clinical studies on investigational uses of cancer medicines cabozantinib (Cabometyx®), liposomal irinotecan (Onivyde®), and lanreotide autogel (Somatuline®, marketed as Somatuline Depot® in the United States) will be presented at the 2019 American Society of Clinical Oncology (ASCO) Annual Meeting. The meeting takes place in Chicago, Illinois, U.S., 31 May–4 June 2019; data featuring Ipsen medicines includes: New data from the Phase 3 CELESTIAL trial on the association of adverse events with efficacy outcomes for cabozantinib in patients with advanced hepatocellular carcinoma Overview of the Phase 3 COSMIC-312 trial of cabozantinib in combination with atezolizumab vs sorafenib in patients with advanced hepatocellular carcinoma who have not received previous systemic anticancer therapy First Phase 2 data from the CaboGIST study (trial 1317) from the European Organization for Research and Treatment of
The Posiflex Group Showcases an Ecosystem of Connected Solution Endpoints with IoT Remote Monitoring at Computex 201924.5.2019 04:00:00 EEST | Tiedote
For the Computex 2019 show, The Posiflex Group is featuring leading solution technology from the family of brands as a fully Serviced IoT Ecosystem. Solution end points include: Connected Modular Kiosks, POS Terminals, and Digital Signage solutions from Posiflex and KIOSK Information Systems Smart Medical Displays with gesture controls from Portwell Connected Gaming Solutions with Player Tracking Technology from Portwell subsidiary, Ganlot The booth display is based on common field service endpoints represented in a European Manor Destination Resort setting. Field solutions for an array of vertical market applications include QSR ordering, cinema ticketing, fashion retail customer loyalty, interactive signage, hotel / medical center check-in and bill pay, as well as casino gaming technology. This year, in addition to their renowned POS product suite, Posiflex will be featuring newly introduced Modular Kiosk platforms (co-designed by KIOSK and Posiflex), which are configure-to-order sta
Audi China President Thomas Owsianski to Keynote at CES Asia 201923.5.2019 23:00:00 EEST | Tiedote
The Consumer Technology Association (CTA)TM today announced that Thomas Owsianski, president of Audi China, will deliver a keynote address at the upcoming CES Asia 2019. Now in its fifth year, CES Asia will run June 11-13, 2019 at the Shanghai New International Expo Centre (SNIEC) in Shanghai, China. Thomas Owsianski’s keynote is scheduled for 4 PM, Tuesday, June 11, where he will unveil Audi’s vision in transforming mobility from a driving experience to a digital adventure. Mr. Owsianski joined the top management team of Audi China in August 2018 and was named President in October 2018. “Audi has been at the forefront of driving global transformation in the automotive industry through their breakthrough advancements in technology,” said Karen Chupka, executive vice president, CES. “Innovation has revolutionized the transportation experience, and we welcome Mr. Owsianski to the CES Asia stage to share Audi’s vision for the future of global mobility.” Throughout Asia and beyond, technol
ITechLaw Publishes New Book and Opens Global Public Comment Period on Draft Principles for Responsible Artificial Intelligence23.5.2019 22:11:00 EEST | Tiedote
The International Technology Law Association (ITechLaw) has published Responsible AI: A Global Policy Framework, a new book that provides an in-depth review and eight discussion principles that address some of the hottest technology and moral issues of responsible development, deployment and use of artificial intelligence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190523005752/en/ ITechLaw releases new book, Responsible AI: A Global Policy Framework, and opens public comment period. (Photo: Business Wire) Written by a multi-disciplinary group of 54 technology law experts, industry representatives and researchers from 16 countries, the book offers an actionable framework built on the following principles: Ethical Purpose and Societal Benefit, Accountability, Transparency and Explainability, Fairness and Non-discrimination, Safety and Reliability, Open Data and Fair Competition, Privacy, and AI and Intellectual Property.
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