Citi has been awarded a new mandate to provide hedge fund administration services to NWI Management LP, a New York-based investment adviser.
The mandate covers private investment funds totaling over $3.1 billion in assets as of May 2013. NWI managed a total of over $4.2 billion in assets as of May 1, 2013 for funds and accounts that generally follow discretionary global macro strategies with a focus on emerging markets.
"Citi's fund administration solution offers a compelling depth and breadth of capabilities that make Citi an industry leader," said Hari Hariharan, CEO and chairman of NWI.
"As a premier global financial institution, Citi has been a key business partner for NWI since our inception, and we value their expertise across a wide range of asset classes. This new mandate builds upon that successful relationship."
"We are pleased to demonstrate how Citi's expertise across multiple business lines align to deliver complete solutions for our clients," said Mike Sleightholme, global head of hedge fund services at Citi. "We look forward to supporting NWI's continued growth in the hedge fund space by delivering our robust hedge fund administration solution."
