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.”


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note