Citi announced Thursday that its fund administration unit has exceeded $500 billion in alternative assets.
Citi Hedge Fund Services said in a statement that the $500 billion figure includes over $300 billion in hedge fund assets under administration, and over $200 billion of committed private equity capital under administration. Hedge funds assets under administration was at just below $270 billion in December of last year.
The unit’s global head of hedge fund services Mike Sleightholme and global head of private equity services Joe Patellaro both attributed the growth rate to the firm's enhanced solutions across its global platform.
Citi Hedge Fund Services is listed as the fifth largest hedge fund administrator in eVestment’s Q2 2013 eVestment Hedge Fund Administrator Survey.