eSecLending Appointed Securities Lending Agent by Florida SBA February 2014
eSecLending Appointed Securities Lending Agent by Florida State Board of Administration for $30B in Global Equity Assets
BOSTON, February 26, 2014 – eSecLending, a leading global independent securities lending agent, announced that they have been appointed by the Florida State Board of Administration (Florida SBA) to provide securities lending and collateral management services. The firm was hired as part of an extensive search process in 2013 and was selected by Florida SBA to auction and manage approximately $30B in global equity assets for their multi-agent lending program.
eSecLending held an auction in November 2013 for the Florida SBA global equity assets and implemented the program consisting of both exclusive borrower arrangements and discretionary lending in January.
eSecLending’s President, Chris Jaynes, states, “After an extensive search process, we were thrilled to be selected by Florida SBA to manage a portion of their securities lending program and are grateful for the opportunity to demonstrate our differentiated lending model and service structure. We are confident our approach will continue to unlock value for Florida SBA and its constituents by utilizing a transparent, disciplined and repeatable lending process.”
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eSecLending is an independently owned financial services company providing securities financing, collateral and liquidity services, and default management solutions to institutional investors, and clearing organizations worldwide.
eSecLending’s operating company (the company through which substantially all eSecLending transactions are contractually executed) is Securities Finance Trust Company (“SFTC”). SFTC is an independent trust company incorporated in the state of Vermont and subject to examination and regulation by the Vermont Department of Financial Regulation in accordance with the rules and regulations of the Office of the Comptroller of the Currency of the United States.
eSecLending is headquartered in Boston and has offices in London, England and Burlington, Vermont. The company was founded in 2000 and is currently owned by Parthenon Capital Partners, a private equity firm based in Boston and San Francisco.