June 1st, 2017

Citadel SPV Expands Services for Delaware Structures

Glenn Kenton joins as Senior Director - Adds Capacity for Statutory Trustee Services

Citadel SPV, a leading provider of independent governance and administration services to the global capital markets, announced today the expansion of its capacities to service specialized financing vehicles domiciled in the State of Delaware.

Citadel SPV has more than 25 years of experience serving in various capacities for Delaware structures, including entity formation, independent director and manager, officer, administrative agent, accounting and investor reporting services.  With today’s announcement, the Company adds the capacity to serve as a Delaware Statutory Trustee and expands its bench of independent directors with extensive Delaware experience.

Glenn C. Kenton has joined Citadel SPV as a Senior Director and will serve as an independent director, independent manager, special or springing member for specialized Delaware financings where Glenn can draw upon his more than 25 years of experience in the Delaware market.  Glenn is a retired partner of the Delaware corporate law firm Richards, Layton and Finger, P.A., where he spent his career assisting major U.S. and foreign corporations, commercial and investment banks and institutional investors in connection with complex financing transactions utilizing Delaware special purpose entities.

A Delaware resident, Glenn also served as the Delaware Secretary of State and has extensive experience in Delaware trust and agency law.  During his time with the State of Delaware, he led the State’s effort to deregulate the nation’s banking industry.

Mark F. Ferraris, Chief Executive Officer of Citadel SPV, said, “Over the past several years, we have increasingly been asked by our clients and their advisors if we can provide a statutory trust solution in Delaware for our structured finance and other specialty finance clients.  The addition of Glenn Kenton to our group provides a useful mechanism to offer statutory trust services.  Additionally, Glenn’s significant experience in the Delaware market adds another strong resource to our already deep bench for independent director and governance services in this important jurisdiction.  We are delighted to have Glenn join the Citadel SPV team.”

Orlando C. Figueroa, Senior Managing Director of Citadel SPV added, “The addition of the capacity to serve as trustee for Delaware statutory trust structures to our already wide array of governance, accounting and administrative services to support Delaware LLCs and other special purpose structures, enhances our ability to provide our clients and their advisors with a complete solution.  We look forward to working with our clients to choose the right structures for their financings.”

Citadel SPV provides a comprehensive array of customized entity formation, governance, accounting, administration and investor reporting services to the global capital markets. We take pride in our unique capacities for specialized services in complex financing transactions, including securitization, project finance and alternative or special situations finance. We are not affiliated with any investment bank, law firm or accounting firm, ensuring our independence.

Our team consists of seasoned professionals with an average tenure of over 20 years in the structured finance industry, including prior experience at investment banks, trust companies and law firms.  Collectively, we have structured and/or advised clients on transactions spanning a wide array of financing structures and asset classes, including aircraft, automobile, credit card, student loan and mortgage-backed securitizations, asset and trade receivables finance, renewable energy finance, fintech, commercial paper conduits and CLOs.

Headquartered in New York, Citadel SPV is independently owned and operated, and offers clients a comprehensive network of global service delivery locations, either directly or via our partner network, including Delaware, Texas, the Cayman Islands, Europe including the United Kingdom, Ireland, Luxembourg and the Netherlands, as well as the Asia Pacific region including Australia.