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12 February 2013
Luxembourg
Reporter Georgina Lavers

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William Blair & Company chooses Citi for fund administration

Citi has been appointed by William Blair & Company, the global investment banking and asset management firm, to provide offshore fund administration services for its Luxembourg-domiciled SICAV funds. Citi will provide an integrated range of services including custody, trustee, fund accounting, transfer agency and foreign exchange solutions.

With $49.6 billion of assets under management as of December 2012, William Blair launched its Luxembourg-domiciled SICAV funds in 2004 to allow European investors access to its investment strategies. Since then, the funds have grown to nearly $1.6 billion in assets as of the end of 2012.

“As our overseas business continues to grow, we are excited to partner with an experienced fund administrator with a global footprint to support our expansion plans while maximizing shareholder value, said William Blair’s Rick Smirl, chief operating officer of William Blair Investment Management.

“We are very pleased to support a growing and highly-respected fund manager such as William Blair and look forward to helping them grow their Luxembourg SICAV business,” said Sanjiv Sawhney, EMEA head of Securities and Fund Services at Citi. "This mandate is further testament to the strength of our Luxembourg-based fund services platform.”

Citi has had a presence in Luxembourg since 1970 and currently employs 230 people, providing transaction services, global relationship banking and funds industry services. Citi Luxembourg recently opened a securities lending desk to offer an integrated execution, prime brokerage, securities financing, fund administration and custody platform to clients within Luxembourg and Europe.

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