Citi has expanded its private equity services business into Luxembourg through a dedicated centre of excellence for closed-ended funds.
This launch follows Citi’s recent introduction of such services in Dublin and Singapore and allows the bank to provide end-to-end private equity solutions in the growing EMEA market.
Citi’s local Luxembourg team will serve its private equity clients, leveraging the bank’s existing global private equity expertise and delivering its established experience in Luxembourg depositary banking as well as local regulatory and compliance requirements.
“Luxembourg is strategically poised to address the regulatory changes underway in the European funds space. Our private equity, venture capital and institutional clients will now be able to access a customer-focused local team as well as the accounting, administration, tax and offshore expertise of our global and regional hubs,” says Joe Patellaro (pictured), global head of private equity services at Citi.
“The formal establishment of these services in Luxembourg puts Citi in an ideal position to provide clients with critical private equity accounting functions while helping them address EMEA regulatory obligations in this jurisdiction,” says Sanjiv Sawhney, EMEA head of securities and fund services at Citi.
