Citi gets US "fund of hedge funds" mandate 12 January 2012New York Reporter: Anna Reitman
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Citi has announced its appointment by Dorchester Capital Advisors to provide fund administration and custody for the California-based company's fund of hedge funds.
"We selected Citi to consolidate more of our business because we have been continually impressed by the depth of Citi's expertise with alternative funds and its broad range of administration, custody and capital markets capabilities," said Craig Carlson, CFO at Dorchester Capital. "With Citi, we know that we can draw upon deep bench strength to support our ability to innovate, bring new products to market and continue to grow our business."
As alternative investment continues to grow, investors are demanding greater transparency, more robust administrative support and a seamless combination of services. Citi's alternative fund of funds service platform helps clients to establish a more efficient, informed and effective investment process - from risk management tools, research, custody and middle office services to analytics and administrative reporting.
"We are very pleased to strengthen our relationship with Dorchester, who is a leading manager in the alternative space," said Bob Wallace, head of North America for Securities and Fund Services, Citi. "We look forward to continuing to support Dorchester's growth by delivering end-to-end fund of hedge fund solutions that help improve transparency and create cost and operational efficiencies."
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