Citi Ranked Number One in Private Equity Fund Administration Services in Brazil
New York, NY - June 20, 2011 – Citi today announced that it has been ranked number one in private equity fund administration services by the Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator, in a ranking of assets under administration. At the end of the first quarter 2011, Citi administered assets of BRL 12 billion (US $7.5 billion), with a market share of 17.8% -- a six-percentage-point advantage over the next largest administrator. Brazil’s private equity market has been growing at a rapid rate as it continues to benefit from incentives that encourage investments by domestic pension funds and tax advantages to international investors. Since June 2010, growth in private equity funds has exceeded 35% and assets have reached BRL 66 billion (US $41 billion).
The rapid growth has stretched the resources of private equity firms as they set up investment vehicles, make investments and raise assets. To help its clients, Citi combines experienced global teams of private equity administration professionals with local securities and banking teams to deliver solutions that enable private equity funds to focus on investing assets and serving their local and international investors.
"Brazil has become an important participant in the global private equity marketplace as the infrastructure investment demands and a rapidly growing economy increasingly attract private equity funds, " said Sanjiv Sawhney, Global Head of Fund Services, Citi. "With Citi’s 7,000 employees and local presence in Brazil since 1915, we are superbly positioned to provide a full suite of industry-leading fund administration services to the market, both now and in the future."
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $13 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and $13 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com.