Citco Private Equity Services win ‘Fund Administration Technology’ and ‘Fund Administration Innovation’ Awards by The Drawdown
LONDON, 12 June 2018 – The Citco Group of Companies (“Citco”), a leading global provider of financial services and software-enabled services, announced that it has been awarded the ‘Fund Administration Technology’ and ‘Fund Administration Innovation’ awards at the inaugural Private Equity Services Awards event in London on 12 June.
The Drawdown’s inaugural Private Equity Services Awards recognizes those private equity service providers which have demonstrated exceptional client service, innovative product development and sustainable business growth over the past 12 months. Winners were picked by a panel of leading private equity CFOs, COOs, CCOs, GCs and CTOs who followed a rigorous judging process. Their assessment considered client experience, innovation in product development and strong business growth.
Citco’s PE business has seen assets under administration grow to $300bn. Increased scrutiny from regulators and demand for greater transparency from investors has led to a rising need for technology-backed solutions. Citco’s cutting-edge technology allows both established and new managers to gain an operational edge, minimizing costs and achieving operational efficiency. Current products include:
- Citco Waterfall: A proprietary technology that enables the efficient calculation of carried interest allocations for limited and general partners on a standardized platform – this technology is the first of its kind.
- CitcoOneTM: A web portal that provides clients with an aggregated risk reporting data mart along with a custom performance and risk analytics engine.
“We are honoured to be recognized by The Drawdown and remain committed to delivering best-in-class technology solutions for private equity and other private asset managers. This client base has historically been under-served because of the highly complex nature of their businesses” said Nikolaos Perros, Head of Private Equity at Citco Fund Services. “In the year ahead, we will continue to invest in both our existing technology and new solutions to ensure our clients are provided with an optimal and scalable technology environment.”
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