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State Street to be private equity administrator for C Change Investments fund

State Street Corporation has been appointed to provide fund administration services for C Change Investments, which focuses on projects and companies for the scale-up or commercializati

State Street Corporation has been appointed to provide fund administration services for C Change Investments, which focuses on projects and companies for the scale-up or commercialization of clean energy, green building and renewable resource technologies or services.

‘We are encouraged by State Street’s commitment to alternative investments as well as its ability to help us navigate the private equity landscape,’ says Russell Read, chief executive officer of C Change Investments. ‘As we continue to build out our alternative platform helping to meaningfully and beneficially transform the way the world produces, distributes and consumes its natural resources, we will also need the help of a sophisticated administrator who can provide solutions for all of our alternative products.’

‘We are pleased to forge this new partnership with C Change,’ adds Jack Klinck, executive vice president and global head of State Street’s Alternative Investments Solutions team. ‘Private equity servicing is a significant part of our alternative servicing business experiencing dynamic growth. With the increased complexity in fund strategies we are well prepared to provide a full range of administration support.’

State Street’s private equity services are part of its alternative investment solutions team which includes more than 2,400 employees located in Boston; Ireland (Drogheda, Dublin, Naas); London; New York City; Tokyo; Toronto; Sydney; and Fair Lawn, New Jersey.

In January of this year, State Street announced that its assets under administration serviced by its private equity fund team grew by 60 per cent in 2008. State Street now provides full-service fund administration services to more than 400 primary funds and more than USD138bn in assets.

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