Citi’s Form PF Solution Helps Meet Data and Operational Challenges Facing Alternative Asset Managers

  Citi’s Form PF Solution Helps Meet Data and Operational Challenges Facing
  Alternative Asset Managers

  Specialized Technology Platform Expands on Citi’s OpenAi Suite of Services

Business Wire

NEW YORK -- July 1, 2013

Citi’s global Form PF solution helps alternative managers prepare and file
Form PF, a SEC requirement designed to report risk exposure metrics on a
consistent basis. This Form PF solution is part of Citi’s greater offering
within its alternatives suite of products and is being successfully utilized
by Citi clients.

Form PF reporting is a product of the Dodd-Frank Act, which was introduced in
2011 to protect investors and the U.S. financial system from systemic risk.
The Form requires registered investment advisers (RIAs) for private funds such
as hedge funds and private equity funds that meet certain thresholds to
disclose details about the types of securities they trade, their use of
leverage and other risk exposure measures.

Citi’s Form PF solution provides extensive data management tools to gather,
aggregate and map data in order to deliver the information needed to prepare
and finalize the reports for filing with the SEC.

“We are pleased to be working with Citi and their Form PF solution,” said
Jonathan Isler, Chief Financial Officer, Deerfield Management Company, L.P.
“It allows us to efficiently gather, aggregate and review critical information
needed for the regulatory filings.”

“Since Form PF’s implementation, our clients have worked hard to meet filing
requirements in a short amount of time,” said Mike Sleightholme, Global Head
of Hedge Fund Services, Citi. “With this solution, as well as a dedicated team
from Citi, our clients have been able to streamline the filing process and
focus their energy on managing their increasingly complex organizations.”

RIAs with at least $150 million in private fund assets under management are
required to periodically file Form PF with the SEC. Each report must include
the amount of assets under management, the use of leverage, counterparty risk
exposure, and information about trading and investment positions.

Citi’s Form PF offering includes:

• Analysis of Data — Full-service solution including explanation of data
requirements, aggregation, mapping and calculation of data producing a final
report for review and electronic filing with SEC

• Data Aggregation and Mapping — Collection of existing and additional data
required from other third-party providers such as prime brokers and
counterparties to be reviewed, aggregated and mapped to Form PF questions

• Filing Calendar — Creation of Form PF production calendar to meet
deliverables with dry run report and mock filing

• Presentation to Client — Web-based view to draft version of the form and
drill-down features to audit data and calculations for sign-off

• Form Filing — Calculation of data and production for final reports for
review and electronic filing with the SEC

Citi OpenAi is the information and reporting engine of Citi OpenInvestor’s
alternatives solution. Citi OpenInvestor provides institutional, alternative
and wealth managers with middle-office, fund services, custody, and investing
and financing solutions that are focused on their specific challenges and
customized to their individual needs. For more information, visit
openinvestor.transactionservices.citi.com.

About Deerfield

Deerfield is a leading investment management firm, committed to advancing
healthcare through investment, information and philanthropy.

For more information, please visit www.deerfield.com

About Citi:

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Contact:

Media:
Citigroup Inc.
New York
Nina Das, +1 212-816-9267
nina.das@citi.com
 
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