William Blair & Company Appoints Citi to Provide Fund Administration Services
London, Luxembourg - February 12, 2013 – Citi has been appointed by William Blair & Company, LLC, the global investment banking and asset management firm with $49.6 billion of assets under management as of December 31, 2012, to provide offshore fund administration services for its Luxembourg-domiciled SICAV funds. Citi will provide an integrated range of services including custody, trustee, fund accounting, transfer agency and foreign exchange solutions.
William Blair launched its Luxembourg-domiciled SICAV funds in 2004 to allow European investors access to its investment strategies. Since then, the funds have grown to nearly $1.6 billion in assets as of December 31, 2012. In appointing Citi, William Blair will benefit from the breadth of a leading proprietary network supporting its global reach.
“As our overseas business continues to grow, we are excited to partner with an experienced fund administrator with a global footprint to support our expansion plans while maximizing shareholder value, said William Blair’s Rick Smirl, Chief Operating Officer of William Blair Investment Management. “We are confident that Citi’s scalable fund services platform coupled with its global network will enable us to meet these goals.”
With $13.2 trillion in assets under custody and $1.5 trillion of assets under administration, Citi is a leading service provider to the global financial services industry. Citi’s full suite of investment service solutions delivered through Citi OpenInvestorSM lets managers focus on their core activities of managing assets and serving their clients.
“We are very pleased to support a growing and highly respected fund manager such as William Blair and look forward to helping them grow their Luxembourg SICAV business,” said Sanjiv Sawhney, EMEA Head of Securities and Fund Services, Citi. "This mandate is further testament to the strength of our Luxembourg-based fund services platform.”
Citi has had a presence in Luxembourg since 1970 and currently employs 230 people, providing transaction services, global relationship banking and funds industry services. Citi Luxembourg recently opened a Securities Lending desk to offer an integrated execution, prime brokerage, securities financing, fund administration and custody platform to clients within Luxembourg and Europe.
Citi OpenInvestor is the investment services solution for today’s diversified investor that combines specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients meet performance objectives across asset classes, strategies and geographies. Citi OpenInvestor provides institutional, alternative and wealth managers with middle-office, fund services, custody, investing and financing solutions that are focused on their specific challenges and customized to their individual needs. For more information, visit openinvestor.transactionservices.citi.com.
About William Blair SICAV
William Blair SICAV consists of a family of six SICAVs for non-U.S. citizens or residents. William Blair & Company, L.L.C. is the investment manager to these Luxembourg-domiciled SICAVs. More information about the William Blair SICAVs is available at sicav.williamblairfunds.com.
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.
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About Citi Transaction Services
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 fourth quarter of 2012, it held on average $428 billion in liability balances and $13.2 trillion in assets under custody.