Citco secures ILS admin mandate 27 May 2015London Reporter: Stephanie Palmer
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Securis Investment Partners has appointed Citco as sole provider of administration services for its portfolio of funds.
Citco will provide the London-based insurance linked securities (ILS) manager with accounting, operations, investor relations, middle office and financial reporting services, replacing current fund administrator Citi Hedge Fund Services.
Securis COO Vegard Nilsen said: “Having worked with Citco in the past, I am very excited about our partnership. I am confident that Citco’s expertise, technology and commitment to exceptional client service makes them the right partner to work with, as we continue to develop and reinforce our position as one of the leading ILS managers.”
“We are witnessing a fund administration industry that is experiencing significant consolidation and have concluded that our business is best served by a fully independent and well established fund administrator as we continue to grow.”
Citco currently has more than $850 billion in assets under administration. The full handover of services is expected to be complete by 1 August 2015.
William Keunen, global director of Citco Fund Services said: “We believe our continued focus and investment into hedge fund administration will help Securis build on their success of the past decade.”
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