Citigroup was appointed by Altera Absolute Russia, the Cayman-based fund, to provide prime brokerage, fund accounting and transfer agency services.
Altera Capital is an event-driven, long/short equity fund advisor primarily focused on highly liquid Russia and CIS-related equities with some additional investments in fixed income, FX, commodity futures, international indices and derivatives.
Viatcheslav Pivovarov, the CEO of Altera Capital, said: "I am confident that partnering with Citi is an important step to build a world-class platform and help global institutions achieve their investment objectives with Altera Absolute Russia Fund."
Sanjiv Sawhney, EMEA head of securities and fund Services at Citi, added: "We look forward to helping Altera achieve their growth plans and make efficiency gains while reducing operational complexity."
"This mandate is a testament to Citi’s continued success in developing strong relationships with hedge fund managers in emerging markets and supporting multi-asset strategies. It also highlights our ability to leverage cross-selling opportunities through the solid partnership between Citi’s prime finance and securities and fund services divisions."
