At the end of the first quarter of 2011, Citi administered assets of 12 billion Brazilian real (US $7.5 billion), with a market share of 17.8%a six-percentage-point advantage over the next largest administrator. The Comisso de Valores Mobilirios, Brazils securities regulator, placed Citi at the top of AuA.
Brazils private equity market has been growing at a rapid rate as it continues to benefit from incentives that encourage investments by domestic pension funds and tax advantages to international investors. Since June 2010, growth in private equity funds has exceeded 35%, and assets have reached 66 billion real (US $41 billion).
The rapid growth has stretched the resources of private equity firms as they set up investment vehicles, make investments and raise assets. To help its clients, Citi combines experienced global teams of private equity administration professionals with local securities and banking teams to deliver solutions that enable private equity funds to focus on investing assets and serving their local and international investors.
Brazil has become an important participant in the global private equity marketplace as the infrastructure investment demands and a rapidly growing economy increasingly attract private equity funds, says Sanjiv Sawhney, global head of fund services for Citi. With Citis 7,000 employees and local presence in Brazil since 1915, we are superbly positioned to provide a full suite of industry-leading fund administration services to the market, both now and in the future.
(CM)