Advised Citigroup Fund Services Canada on its transaction with Larsen & Toubro Infotech
On 17th November 2010 Citigroup Fund Services Canada Inc. (CFSC), a leader in providing integrated securities and fund services to Canada’s investment fund industry, announced that it had reached an agreement with Larsen & Toubro Infotech (L&T Infotech), a global industry leader in information technology systems management, to be its exclusive provider of Transfer Agency technology services.
In addition, L&T Infotech purchased CFSC’s existing IT outsourcing business.
This agreement will enable Citi to focus on core strengths as it continues to grow it’s Securities and Fund Services business in Canada. L&T Infotech’s focus on technology development will ensure Citi’s technology platform remains world-class.
CFSC has built it’s reputation around providing the highest level of service to Canada’s investment fund industry and will benefit from L&T Infotech’s reputation for excellence.
The transaction will strengthen L&T Infotech’s footprint in the Global Transaction Services segment and bring domain & technology rich talent and important IP to it’s portfolio.
Acted as sole financial intermediary to Citi, utilising industry expertise to advise on optimal value, transaction structure and contractual terms.