Citi has won a mandate to provide investment administration services for $28 billion of US-based alternative investment assets for Credit Suisses Asset Management division.
As part of the mandate, a portion of the middle office operations within Credit Suisses Asset Management division will be fully transitioned onto Citis service platform, which includes operations, technology and data management capabilities.
Nigel Hill, global head of Liquid Investments Operations in Credit Suisses Asset Management division, said: Our relationship with Citi gives us the opportunity to enhance our daily operations and the services we provide to our clients in a highly scalable manner.
In addition to middle office solutions, Citi will provide custody and back office support for Credit Suisse Asset Managements proprietary hedge funds.
Citi said its investment services, which include the delivery of middle office, fund administration, global custody, and investing and financing solutions, assist managers in extending and enhancing their operational capabilities so they can refocus resources on core asset management functions.
(JDC)