Dorsal Capital Management has appointed Citigroup to provide a suite of administrative services, including fund accounting and transfer agency, for their new hedge fund launched in Q4 of 2009.
Dorsal is run by Oliver Evans and Ryan Frick, previous employees of Steve Cohen’s SAC Capital. Cohen also provided seed capital for the fund.
We selected Citi because of its reputation as a premier service provider and its many excellent products and services, said Jeff Barnett, Chief Financial Officer, Dorsal Capital Management. We believe that having Citi as our fund administrator will offer value to our current investors and bolster our capital-raising efforts in the future.
Dorsal Capital with its SAC Capital heritage and management strength — was a highly anticipated West Coast hedge fund launch in 2009, said Neeraj Sahai, Global Head, Securities and Fund Services, Citi. We are very pleased to be selected to provide these fund services, and we look forward to delivering superior administrative solutions to support the funds initial development and continued growth.
Citigroup has also launched a new global operating platform for hedge funds. The offering covers the full operating cycle of a hedge fund, and aims to standardise applications and processes across all of Citi’s markets.
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