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Citco enhances Collaboration Platform and widens user base

September 2023

NEW YORK/LONDON, 11 September, 2023 – The Citco group of companies (Citco), the leading asset servicer to the alternative investment industry, has made the Citco Collaboration Platform available to a wider range of Private Markets clients, and added further functionality, as it continues to digitalize and enhance client interactions.

The Citco Collaboration Platform, which allows clients to carry out a variety of interactions with Citco through a single platform accessible via CitcoOne™, now serves not only Private Equity but also Private Credit Funds, and is currently being rolled out to Real Assets Funds. In doing so, Citco is aiming to deliver a more unified user experience across Private Markets, which can be particularly beneficial for clients with funds investing in a variety of asset classes.

The platform provides users with a unique portal offering a single point of access to collaborate with the Citco team on a growing variety of service interactions, including capital events and now period-end reporting for monthly and quarterly funds, a feature that can be particularly useful for clients running many funds with many legal entities. Clients gain additional security and transparency through the digitalization of this process.

By using a live platform to see what action is with whom, it provides transparency to all parties, allowing users to dispense with email communications. Available as part of Citco’s standard offering, the platform initially launched in 2021 to enhance processes around capital events for Private Equity Funds. Since launch, the platform has digitally processed more than 2,000 capital events - covering calls and distributions - and now has almost 500 users across 85 clients - each with numerous funds. Offering an intuitive, easy-to-use interface which has been developed in conjunction with users, it is a core part of Citco’s ongoing drive to enhance the user experience by either fully automating or digitalizing processes and clients’ interactions.

Sam Metland, Head of Private Equity Product, Citco (UK) Limited, said: “Citco has always strived to be at the cutting edge of technological development in the asset servicing industry, and we are continually looking to enhance how we work with our clients.

“The Collaboration Platform is one of the tools we have created to do just that, helping to digitalize those interactions with us which cannot be fully automated, and increase transparency for all parties, and these latest enhancements move us further along in that journey.”

Jean Sweeney, Senior Product Manager, Citco Fund Services (Ireland) Limited, who has been running client demos, added: “Feedback from our clients using the Collaboration Platform has been very positive. Being able to move away from email and complete capital events through the platform has increased efficiency and streamlined the process. Clients are excited to be able to track all capital events in the platform and have transparency into the process.

“The platform has been praised for its intuitive and user-friendly design and we look forward to working with Real Assets clients as they are onboarded to the platform.”

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