The Citco Group of Companies announced Wednesday that its hedge fund administration unit is expanding its global presence with the launch of its Malta office.
William Keunen, the global director at Citco Fund Services, said in the statement that the decision to open an office in Malta was prompted by growing demands from clients and the implementation of the AIFMD in July. AIFMD, short for Alternative Investment Fund Managers Directive, is a law that will consistently regulate hedge funds across the European Union.
The new office will provide fund administration services to funds domiciled both in and outside of Malta.
Citco has locations throughout the world, including New York, Miami, Bermuda, Ireland, Dubai and Singapore. Citco was ranked 2nd in the Q4 2012 eVestment Hedge Fund Administrator Survey with $505 billion in hedge fund assets under administration.