Citco To Offer Financing To Hedge Funds

Hedge fund administrator Citco has confirmed one of the longest running rumours in the industry by formally announcing that it will now offer financing to hedge fund investors
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Hedge fund administrator Citco has confirmed one of the longest running rumours in the industry by formally announcing that it will now offer financing to hedge fund investors. Citco says it has launched Citco Financial Products to “offer financing solutions to clients.”

Gilbert Grosjean, Global Head of Financial Products at Citco Group, says the new business is already offering a full range of credit facilities to the Harcourt family of fund-of-funds controlled by the Swiss Vontobel Group.

“Citco Financial Products (CFP) is the newly formed entity inside the Citco Group whose mission is to offer a full range of financial services that go from working capital and leverage facilities to FX hedging and total return swaps for Citco clients,” says Grosjean. “CFP has proven that, even though it is a quite young entity, it is able to execute very large and complex transactions.”

Harcourt, a longstanding client of Citco on the custody and fund administration side, describes Citco as a one stop shop provider. “We are delighted about our new Citco set up,” says Frederic Berney, Partner and Chief Risk Officer at Harcourt. “The integrated approach is a substantial added value for our back office, while at the same time we reduce our operational risk. The professionalism and competence of the CFP team enables us to plan and optimize all the financial needs of our funds.”

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