News

Citco�s Full-service Solution Supports Leading Private Equity Firm in Time of Rapid Fund Growth and Strategy Diversification

  • Launch of Citco's
    Private Equity investor services center of excellence
  • Full suite of asset
    servicing solutions provided by Citco to EQT funds
  • Citco's partnership with
    EQT reflects increased use of technology and process efficiencies by 'mega
    funds' to handle global scale and complexity

HONG KONG, CHINA�-�Media OutReach�-�28 February 2019�- 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
�xeo 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, �xeo 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 Burn�s, 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 protected].

About Citco

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.

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