Hedge fund Citadel Solutions LLC announced today that the Bermuda Monetary Authority has approved their new branch, making Citadel Solutions Bermuda Ltd. the first company licensed by the BMA to provide administration services to hedge funds.

Effective immediately, Citadel Solutions Bermuda Ltd. will provide middle office and fund administration services to hedge funds as part of the global Citadel Solutions team. It will operate as the headquarters for the firm's offshore administration platform, servicing the needs of clients domiciled across Europe, Asia and other non U.S. locations.

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