San Francisco-based Union Bank has been selected as global custodian and paying agent for EIG Alternative Investments, LLC (EIG).
We are pleased with the custody platform at Union Bank, says Pritpal Aujla, CFO for EIG. They share our global perspective and they have demonstrated a commitment to supporting the demands of our alternative investment strategies.
EIG Alternative Investments is a major institutional provider of capital to the energy sector. EIG currently has more than $7.4 billion under management globally.
Union Bank is privileged that EIG has expressed confidence in our global custody services, and we are committed to them as they launch new funds within our service platform, says Marianne Bamonte, senior vice president and business manager for Union Banks Institutional Trust & Custody Services. Institutional Trust and Custody has been a core business at Union Bank for nearly a century, and we are determined to remain successful in this highly competitive industry.
EIG has also designated the HighMark Diversified Money Market Fund as its recurring overnight investment vehicle.