Sweden based hedge fund manager Brummer & Partners has appointed Citi, to offer depositary, custody and prime brokerage services for its newly introduced Carve fund.
Carve Capital CEO and portfolio manager Peter Thelin said the company will benefit from Citi’s local presence, global sub-custody network and its ability to provide a multi prime brokerage model for Swedish investment funds.
Following the mandate, the US firm now is able to offer local depositary, custody and prime brokerage services in Sweden.
It can also maintain local based funds with independent depositary capabilities including supervision of funds’ service providers, protection of funds’ assets, as well as daily automated monitoring of funds’ investment rules and regulatory restrictions.
Trading since 1976 in Sweden, Citi offers numerous financial services and products including corporate and investment banking, global markets and transaction services.
It also provides prime brokerage services to its clients through offices in Hong Kong, London, New York, Singapore, Sydney, San Francisco and Tokyo.
Citi OpenInvestor delivers institutional, alternative and wealth managers with middle office, fund services, custody, investing and financing services.