Citi Awarded Middle Office Services Contract by Spartus Capital Management LP
New York, NY - April 25, 2012 – Citi has been awarded a contract to deliver hedge fund middle office services to Spartus Capital Management LP — a new divergent volatility strategies hedge fund. The award followed a competitive process and Citi was chosen from multiple providers.
Through Citi’s work with a wide range of hedge funds, extensive industry research, and worldwide presence, Citi services hedge fund clients by supporting them through all phases of their growth and maturity, from start-ups to institutional-size funds.
"Citi’s expertise and middle office technology have been instrumental in supporting the launch of our new fund," said John Liu, Chief Investment Officer, Spartus Capital Management LP. "With Citi providing our middle office services we can focus more of our management time on generating alpha and serving our investors."
Citi’s middle office platform provides a modular solution with wide access to data, addressing a wide range of needs relating to post-trade work flow. Built on an integrated data management model, it supports front office activities with a complete set of capabilities including the ability to monitor trades and positions through a secure website.
"We are pleased that Spartus selected Citi to deliver the solutions it needs to support the fund’s success," said Bob Wallace, North America Head of Securities and Fund Services, Citi. "This mandate is further evidence that Citi is well positioned in the marketplace to provide a comprehensive solution across a diverse range of client categories, investment strategies, and asset classes."
Citi OpenInvestorSM is the investment services solution for today’s diversified investor, combining specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients meet performance objectives across asset classes, strategies, and geographies. With an on-the-ground presence in over 95 countries and over $13 trillion in assets under custody, Citi offers award winning service and unmatched scale. Citi provides complete investment services for institutional, alternative, and wealth managers delivering middle office, fund services, custody, investing and financing solutions focused on clients’ specific challenges, customized to their individual needs.
Citi 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 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the first quarter of 2012, it held on average $377 billion in liability balances and $13 trillion in assets under custody.
About Spartus Capital Management
Spartus Capital Management is an investment management firm specializing in value creation and alpha generation through convex strategies. As a team of process-driven investment specialists with deep industry experience, Spartus is dedicated to seeking consistent capital appreciation through all market environments.
Citi, the leading global bank, 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.
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