Citco Sets Up Shop In Guernsey

Jun 25 2014 | 6:42am ET

Hedge fund administrator Citco Fund Services has set up a second Channel Islands office as it seeks to expand into private equity administration.

Citco, which already has offices on Jersey, has opened one on Guernsey. Initially, the new base will serve just one client, p.e. firm EQT Partners, which formerly administered its assets internally. But the firm hopes that it will kick-start its p.e. administration business, as well as attract other Guernsey-based clients.

“Onboarding a strategic client in this way is an ideal arrangement for us and sets us off up and running in Guernsey quickly,” Citco global director William Keunen said. “We’re very proud to be able to launch our business in such a substantial way and couldn’t have done so without our alliance with our client.”

“This is a very exciting development for us and for Guernsey. There is a number of Guernsey-domiciled and non-Guernsey-domiciled funds being serviced here, particularly private equity, and we see a lot of opportunity.”

Citco has 19 offices around the world.

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