State Street’s Private Equity Assets Under Administration Grew by 60 Percent in 2008
Date: January 29, 2009
State Street Corporation (STT), the world’s leading provider of financial services to institutional investors, announced today that assets under administration serviced by its private equity fund team grew by 60 percent in 2008. State Street now provides full-service fund administration services to more than 400 primary funds and more than $138 billion in assets.
“Even with the slowdown in the overall financial markets, private equity fund managers are still looking to third party administrators to provide greater efficiencies, more consistent reporting and cost savings for their funds,” said Jack Klinck, executive vice president and global head of State Street’s Alternative Investment Solutions team. “Customers also recognize that experienced third party providers can stay ahead of changing requirements throughout the fund lifecycle, understand the nuances of each fund’s structure, and adapt accordingly.”
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Source: Business Wire
