NEW YORK--(BUSINESS WIRE)--The Citco group of companies (Citco) and GIC are pleased to announce that they have entered a long term, strategic relationship. As part of the relationship, GIC, a global institutional investor, has become a minority shareholder in Citco. The founding Smeets Family shall remain the majority shareholder in Citco.

“Citco has organically grown into a global market-leading asset servicing business, delivering value to investors like GIC for over 50 years. Our investment aligns squarely with GIC’s commitment to building long-lasting partnerships that empower family-owned businesses to thrive. With a combination of client-centric solutions and savvy technological investments Citco is at the forefront of their industry. We look forward to partnering with Citco and the Smeets family as we embark on this new chapter together." – Girish Karira, Head of Integrated Strategies Group and Head, New York Office at GIC.

“We look forward to continuing our strategic relationship with GIC. Their industry perspective and long-term approach to investing, paired with Citco’s client-driven solutions and culture of innovation, will enable us to continue to drive scalability for our clients – cementing our position as our client’s foundation for growth.” – Roald Smeets, President and Chief Operations Officer of Citco Group of Companies (Citco)

About Citco

The Citco group of companies (Citco) is a network of independent companies worldwide. These companies are leading providers of asset-servicing solutions to the global alternative investment industry. With over $2 trillion in assets under administration and operations spanning across 36 countries, Citco’s unique culture of innovation and client-driven solutions have provided Citco’s clients with a trusted partner for more than four decades. Having grown organically into one of the largest asset servicers in the industry, Citco offers a full suite of middle office and back-office services including treasury and loan servicing, daily NAV calculations and investor services, corporate and legal services, regulatory and risk reporting as well as tax and financial reporting services, alongside banking and depository services. Investing heavily in innovation and technology whilst further developing its current suite of client-friendly solutions, Citco will continue as a flagbearer for the asset-servicing industry. For more information, please visit www.citco.com or follow on LinkedIn.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. GIC has developed strong relationships and invests with family offices, family-owned businesses/entrepreneurs, corporates, and individuals with specific expertise (independent sponsors). The firm provides bespoke solutions to our partners for various uses including growth capital, M&A financing, shareholding restructuring, etc. With a flexible investment mandate, GIC can invest across the capital structure and hence, find the right investment structure for our partners. GIC’s long-term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice and add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,300 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.