State Street Secures Mandate Win with Galapagos Capital

Rhea-AI Summary

State Street (NYSE: STT) has been selected to provide fund accounting, fund administration, and investor servicing for Galapagos Global Capital Management, the U.S.-based hedge fund manager of Brazilian-founded Galapagos Capital.

This mandate covers services for Galápagos Macro Master LP and Galápagos Macro Cayman State Street aims to leverage its global infrastructure and capabilities to enhance Galapagos Capital's investment operations, address market complexities, and support sustainable growth.

Key executives from both firms expressed their satisfaction with the partnership, highlighting the alignment of their strategic objectives.

Positive

• State Street secured a mandate to provide comprehensive services for Galapagos Capital, indicating trust and confidence from a significant hedge fund manager.
• The partnership is expected to optimize investment operations and support sustainable growth for Galapagos Capital, showcasing State Street's effective service delivery.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- State Street (NYSE: STT) today announced that it has been selected to provide fund accounting, fund administration and investor servicing for Galapagos Global Capital Management, the U.S. based hedge fund manager of Brazilian-founded Investment Company Galapagos Capital. State Street will provide this range of services to its hedge funds Galápagos Macro Master LP. and Galápagos Macro Cayman Ltd.

“We are honored to have earned the trust of Galapagos Capital to provide them with comprehensive asset servicing solutions,” said Otavio Scuccuglia, head of sales, Brazil for State Street. “This mandate underscores our commitment to delivering value and tailored services that are designed to meet the evolving needs of our clients.”

State Street will leverage its robust infrastructure and global capabilities to deliver these services, helping Galapagos Capital to optimize investment operations, navigate complex market conditions and drive sustainable growth.

“We are very pleased to partner with State Street as their servicing solutions and broader commitment to client service aligns very well with our firm’s strategic objectives,” said Sergio Zanini, partner at Galapagos Capital.

For more information about State Street’s range of investment solutions, please click here.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $43.9 trillion in assets under custody and/or administration and $4.3 trillion* in assets under management as of March 31, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 46,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of March 31, 2024 includes approximately $66 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

© 2024 State Street Corporation
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240710589904/en/

Media Contact:

Brendan Paul

Mobile: +1 401 644 9182

Bpaul2@statestreet.com

Source: State Street Corporation

FAQ

What services will State Street provide to Galapagos Capital as per the recent mandate?

State Street will provide fund accounting, fund administration, and investor servicing for Galapagos Capital's hedge funds, Galápagos Macro Master LP and Galápagos Macro Cayman

How does the new mandate affect State Street (NYSE: STT) and its business?

The new mandate with Galapagos Capital strengthens State Street's position in the hedge fund servicing sector and demonstrates trust in its comprehensive asset servicing solutions.

What is the significance of the partnership between State Street and Galapagos Capital?

The partnership is significant as it allows State Street to expand its servicing offerings while helping Galapagos Capital optimize investment operations and navigate market complexities.

Which funds of Galapagos Capital will State Street service?

State Street will service Galapagos Capital's hedge funds, specifically Galápagos Macro Master LP and Galápagos Macro Cayman

What is the strategic objective behind Galapagos Capital's partnership with State Street?

The strategic objective is to leverage State Street's robust infrastructure for optimizing investment operations, addressing complex market conditions, and driving sustainable growth.