State Street Appointed by HSBC Alternative Investments Limited to Provide Back and Middle Office Services

Friday, April 13, 2018 10:39 am EDT

Dateline:

Luxembourg

Public Company Information:

NYSE:
STT
"Our ability to provide customized, bespoke service solutions for our clients positions us perfectly to support HAIL with its new and innovative diversified loan fund."

Luxembourg, April 12, 2018State Street Corporation (NYSE: STT) today announced it has been appointed by HSBC Alternative Investments Limited (HAIL) in Luxembourg to provide a broad range of custody and administration services for its new diversified loan fund.

The appointment represents a new relationship and one where State Street will be the sole provider of several services including, global custody and depositary, fund administration, as well as regulatory reporting services for the EMIR, FATCA and Solvency II.

“Unprecedented changes in regulation, private equity buyout activity and increases in mergers and acquisitions have radically changed the opportunities in both the global loan and direct lending markets,” said David Suetens, country head for State Street in Luxembourg. “Our ability to provide customized, bespoke service solutions for our clients positions us perfectly to support HAIL with its new and innovative diversified loan fund.” 

Suetens continued, “There are 325* Reserved Alternative Investment Fund’s (RAIFs) registered in Luxembourg, and at State Street we service many of them. For us, this appointment underlines our ability to provide comprehensive, customised service models in support of these new and innovative alternative products coming to market.”


* Source ALFI, as of 15 January, 2018

 

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $33.10 trillion in assets under custody and administration and $2.78 trillion* in assets under management as of December 31, 2017, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com

* AUM reflects approx. $35 billion (as of December 31, 2017) with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated. 

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.

 © 2018 State Street Corporation. All Rights Reserved.

State Street Corporation, One Lincoln Street, Boston, MA 02111-2900


Tracking Number: 2076522.1.1.GBL.PR

Expiration date: 04/30/2019

Contact:

Alice Westwell
+44 2033952673
AWestwell@statestreet.com
@StateStreet

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