Citi Securities and Fund Services, a division of Global Transaction Services, has been mandated Redwood Investment Management to provide fund services to its Redwood China Fund, which was launched in 2009.
Citi is now acting as hedge fund administrator for the Redwood China Fund and will provide the fund with a range of services, including Citis Asia Pacific operations team in Hong Kong. The transfer agency and corporate secretarial component of the mandate are to be performed by Citis Alternative Investment Services hub in Ireland.
Patrick Lo, CEO at Redwood China Master Fund, said: At Redwood Investment we insist on considerable rigour, transparency and accountability from the administrators of our underlying funds. The team at Citi Fund Services impressed us with their technology infrastructure, investor service capability and attention to detail.
Investor demands for administration services are clearly evolving and Citis client-focuses approach is proving highly attractive to all forms of asset managers, said David Russell, Managing Director, Region Head of Securities and Fund Services, Asia Pacific, Citi.We look forward to providing Redwood Investment Management with the regions leading administration services now and in the future.
Kay Sprague, Director, Region Head of Client Solutions, Asia Pacific, Citi, said: At Citi, we have seen significant growth in the alternative asset sector and our focus has provided us with an exciting opportunity to work with Redwood Investment Management. We are confident that no other provider can support the broadest range of alternative investment mangers across the region, whilst ensuring the best control processes available, as Citi can.