Citi has been appointed by Nexum to service its Luxembourg domiciled hedge fund, and will act as fund administrator, transfer agent and custodian and provide prime brokerage services and compliance monitoring.
The application is now live and all assets have been successfully migrated onto Citi’s common funds administration and custody platform in Luxembourg, the banking group says.
“Citi’s position as a leading corporate bank with investor services and prime brokerage capabilities combined with its global network and local capabilities in Luxembourg made them a natural partner for us,” says Thomas Lifvendahl, Nexum’s managing director. “Citi responded to our need for a single provider who could offer in house prime brokerage for a wide range of financial instruments and strategies, full automation and STP processing and consistent reporting.”
Marc Pecquet, Citi’s country officer for Luxembourg, adds: “We are thrilled to be working with Nexum. Citi’s appointment by Nexum underscores our commitment to becoming the administrator of choice in the alternative investment marketplace globally and in Luxembourg. Nexum is our first Luxembourg domiciled hedge fund client and we look forward to providing them with the finest service, products and technology available.”