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State Street Corporation (NYSE: STT) 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 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.
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