The University of Sydney endowment fund selects BNP Paribas
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The University of Sydney endowment fund selects BNP Paribas 24 September 2024 Australia Reporter: Klea Neza
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BNP Paribas’ Securities Services business has been selected by the University of Sydney Endowment Fund to provide custody and fund administration services.
The University of Sydney endowment fund sought a new provider following the withdrawal of National Asset Servicing (National Australia Bank’s custody arm) from the Australian market.
The University of Sydney has been operating an endowment fund since 1997, with AU$4.4 billion currently in assets under management (AUM).
The endowment fund operates a long, medium and short-term fund, and invests across a range of domestic and global asset classes, listed and unlisted, public and private.
Miles Collins, CIO of Investment and Capital Management, from the University of Sydney’s endowment fund, comments: “When selecting a new custodian, our top priority was to choose a provider which enables us to create a long-term partnership, built on collaboration and trust. We look forward to growing our relationship over time to help deliver our sustainability and growth agenda.”
David Pember, head of Sales and Relationship Management, Securities Services at BNP Paribas, comments: “We are delighted that the University of Sydney Endowment Fund has joined our client community and we look forward to working together to deliver on their strategic goals.”
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