State Street wins HSBC back and mid office services contract

State Street has been appointed by HSBC Alternative Investments Limited (HAIL) in Luxembourg to provide custody and administration services for its new diversified loan fund.

Under the deal, State Street will be the sole provider of global custody and depositary, fund administration, as well as regulatory reporting services.

“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.” 

“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.”

©2018 funds europe

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