NEW YORK/LONDON, 27 February 2023 – The Citco group of companies (“Citco”), the global alternative investment asset servicer with over $1.8 trillion in assets under administration, is pleased to announce that it has been recognized in the Mortgage Bankers Association’s (MBA) Annual Servicing Rankings 2022, ranked 11 overall and included in the top 10 across several other primary servicing categories.
With operations spanning across 36 countries, independently owned Citco has led the way in the definition and evolution of the asset servicing sector for more than four decades. Adhering to its client centric approach and shift in demand, it commenced shadow servicing for its Debt Fund client base over a decade ago. In 2018, it launched a formal service offering supporting direct lenders, their syndications partners, and capital markets structures, thus enabling the firm to branch out of alternative assets and service a wider range of clients.
In under five years, Citco’s loan portfolio has more than doubled in size to reach a total of $130B across 15,000 loan facilities. Due to its global footprint, Citco is able to provide a full suite of servicing and agency options, leveraging its knowledge of complex structuring and the requirements of both Debt Funds and Institutional clients in order to distinguish itself from the typical servicing options.
Elaine Furnari, Head of Loan Services, Citco Fund Services (USA) Inc., said: “Since joining Citco in 2018, we have been building this business to complement our well-established, global alternative asset services platform. We provide our institutional and private credit clients with best in class loan servicing and agency solutions globally. We are delighted to have been recognized in the MBA’s 2022 Service Ranking across such a number of categories and look forward to further strengthening our business offering and client reach.”
Michael Peterson, Managing Director of Citco Capital Solutions Inc., said: “This as an incredibly exciting opportunity to further cement Citco’s global reputation and scope outside of the alternative investments sector. We witnessed a shift in demand from our client base from passive loan investing to directly originating and syndicating and, to support this demand, we enhanced our service offering. In turn, we are delighted that Citco’s loan servicing portfolio has more than doubled in size in less than five years, and the MBA’s latest annual ranking showcases that our efforts to support our clients – as well as catering to a new target audience – has been a success.”