Investment Operations

State Street Appointed by HSBC Alternative Investments for Back and Middle Office Services

State Street Bank & Trust

State Street has 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, said the bank, 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.”

“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,” Suetens added.