Phase4 Ventures managing partner Denise Pollard-Knight said, "As we move forward as an independent venture capital firm, the appointment of a third-party administrator is an important step to ensure optimal transparency for our investors, while keeping administrative costs as low as possible. Citi will be instrumental in helping us achieve this goal."
Citi global head of fund services said, "As the increased regulatory requirements for reporting and transparency shape the market, private equity funds can greatly benefit from the skills and expertise of a third-party administrator to manage costs and risk more efficiently."
Citi offers a wide spectrum of solutions for private equity managers across capital raising, transactions, fund administration, custody and global banking through Citi OpenInvestorsm.
Transaction Services, a division of Citi’s Institutional Clients Group, provides incorporated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations across the globe.
Citi’s Transaction Services supports over 65,000 clients in over 95 geographies and as of 31 March 2012, the firm on average $377bn in liability balances and $13 trillion in assets under custody.
