Citi Named Prime Broker To New US$500M Brummer Fund

Dec 20 2012 | 9:40am ET

Sweden's largest hedge fund manager has picked Citigroup to serve as prime broker for its new US$500 million vehicle.

Citi will provide prime, custody and depositary services to Carve Capital, Brummer & Partner's newly-launched hedge fund investing in U.S. and European stocks and bonds.

“We are delighted to appoint Citi for our new Carve funds,” said Peter Thelin, CEO and Portfolio Manager at Carve Capital. “Citi’s local presence, proprietary global sub-custody network and its ability to offer a multi prime brokerage model for Swedish investment funds, putting Sweden in line with the rest of Europe, have been important factors in our decision.”

”We are delighted to be chosen as prime broker for the Carve fund,” said Mark Harrison, European head of prime finance at Citi. ”In bringing together our Swedish depositary and our global prime finance business, we have created a compelling and integrated offering allowing the Swedish onshore hedge fund community to benefit from Citi’s multi prime brokerage model.”

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