Citi Launches Private Equity Centre Of Excellence In Luxembourg
London, Luxembourg – Citi has announced that it has expanded its private equity services business into Luxembourg through a dedicated Centre of Excellence for closed-ended funds. This launch follows Citi’s recent introduction of such services in Dublin and Singapore and allows the bank to provide end-to-end private equity solutions in the growing EMEA market.
Citi’s local Luxembourg team will serve its private equity clients, leveraging the bank’s existing global private equity expertise and delivering its established experience in Luxembourg depositary banking as well as local regulatory and compliance requirements.
“Luxembourg is strategically poised to address the regulatory changes underway in the European Funds space. Our private equity, venture capital and institutional clients will now be able to access a customer-focused local team as well as the accounting, administration, tax and offshore expertise of our global and regional hubs,” said Joe Patellaro, Global Head of Private Equity Services at Citi.
“The formal establishment of these services in Luxembourg puts Citi in an ideal position to provide clients with critical private equity accounting functions while helping them address EMEA regulatory obligations in this jurisdiction,” said Sanjiv Sawhney, EMEA Head of Securities and Fund Services at Citi.
With over $200 billion in assets under administration, Citi has been servicing private equity funds and investors for nearly two decades and is a leading global provider of accounting, administration and tax services for private equity, venture capital and institutional investors.
Citi OpenInvestor 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 our clients meet their performance objectives across asset classes, strategies and geographies. Citi provides complete investment services for traditional and alternative asset managers, delivering middle office, fund services, custody, and investing and financing solutions that are focused on our clients’ specific challenges and customized to their individual needs.
For more information, visit openinvestor.transactionservices.citi.com.
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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