Accounting standards

LemonEdge partners with ROYC

The partnership aims to enhance ROYC’s management of closed-, open-ended and hybrid funds

Profile: Sally Beh, ACE & Company

Shares some key management tips she has adopted after 11 years at the firm

Qashqade and Entrilia integrate

Qashqade waterfall calculations can run through Entrilia's fund accounting platform

Carta and Merge combine

The partnership aims to enhance equity management processes

LeadingMile partners with Qashqade

The partnership aims to increase European GP access to automated waterfall calculations and cap-table monitoring

Sweet sorrow

The alluring attraction of semi-liquid strategies brings with it a cautionary 
tale of liquidity (mis)management

International Valuations Standards updated

The revised version includes ESG valuation considerations in additional chapters on data and inputs and valuation models

Partners Group appoints CFO

Joris Gröflin joins from Swiss renewable energy producer Axpo Group

Financial Policy Committee outlines systemic risks in private credit

More regulatory scrutiny is expected to be placed on valuations, risk management, liquidity and leverage mechanisms to monitor systemic risks in private credit

Invest Europe updates investor reporting guidelines

The guidelines have been updated from 2018 to make reporting on fund and portfolio returns more streamlined

Profile: Miguel Gutiérrez, Portobello Capital

The deputy COO discusses working life at the Spanish GP, from adopting new technologies to overseeing the Luxembourg office

Adepa acquires Fidupar

Two Luxembourg fund admins combine

All Seas promotes Martina Ross

Ross has been finance and operations manager at the firm since 2019

Morningstar partners with iCapital

Advisor Workstation will be topped up with access to alternative assets, educational resources, reporting services and portfolio construction support

Profile: Jesper Frydensberg Rasmussen, Axcel

The CFO discusses the importance of clearly defined roles and how CFOs can support their firm in uncharted economic environments

Dura acquires Satuit

Satuit Technologies is a cloud-based CRM and investor portal for the asset management industry

Apis appoints COO

Maggie Abrahams was previously COO at IH International Advisors

UK regulators consult on the operational resilience of critical third parties

FCA, PRA and Bank of England welcome feedback on the proposed framework deeming certain third-party organisations as ‘critical’, to reduce any associated systemic risks to the financial services industry

Profile: John Mansvelt, Apheon

CFO and AIFM conducting officer tells the story of his transition from audit to PE, his key governance duties and shaping a new cultural identity

Operational utopia

If operations professionals made all the decisions, what would the perfect PE firm look like?

Canoe partners with K1x

Fintech company pushes the boat out with additional tax document automation functionality

Carbon Accounting Alliance launches

Group of 35 organisations represents emissions of 24,000 companies

JTC acquires Blackheath

Fund administrator expands its ManCo services for UK-based funds

Crossbreed funds

How PE is shedding its ‘illiquid’ skin and creating hybrid funds to access the private wealth market

Hawksford acquires Paradigm

The fund administrator is expanding to the Cayman Islands

The digital CFO

While most CFOs would protest at the idea of their entire role being outsourced, an example of a plug-in CFO service is the upcoming launch of Corvus Group. Is it time to outsource the CFO entirely?

Apex acquires Watermark

The fund administrator has infiltrated the Portuguese market

Middleground appoints head of finance

Partner Cristopher Speight joins from biotech firm Alltech

Kennek secures $12.5m

Seed funding round was led by HV Capital

Ocorian gets an A-Pass

The acquisition of the corporate administration service provider will strengthen Ocorian’s presence in Asia

Profile: Melanie Wiese, Deutsche Beteiligungs AG

The CFO and member of the board of management walks us through lessons learned in the course of her career and how her passion for a diverse and collaborative culture translates into practice

Lionpoint launches treasury practice

Former head of operations at KKR Danny Olds will lead the practice

Vector updates fund accounting tool

The fund administrator has incorporated a GP and LP portal into Valence

Valutico partners with Integra International

Tax, audit and accounting association will offer Valutico’s valuation services to its clients

Column: The valuation conundrum

Malcolm Goddard, COO of Zetland Capital, questions whether the industry built up to assess PE valuations is fit for purpose

Around the books in 80 days

GPs' travels through the auditing process

Apex acquires Axess Accounting Office

The acquisition expands Apex’s presence in Japan

The Drawdown Awards winners: 73 Strings

The Drawdown speaks to Yann Magnan, CEO and co-founder of 73 Strings, winner in the Technology: Innovation category at The Drawdown Awards 2023

Cypress Growth Capital invests in PFA Solutions

The Dallas-based software and technology focused growth capital investor has invested $2m in the financial industry SaaS solution provider

ACP opens Luxembourg office

The admin centre will be headed by finance director Iain Smith

HarbourVest appoints head of fund accounting

Peter Mahoney joins from asset manager Vanguard

The Drawdown Awards 2023: Winners announced

Congratulations to all of the winners of The Drawdown Awards 2023

Hazeltree appoints CTO

Richard Winter joins from fintech Finastra

PE firms better at shifting costs of W&I

Some 17% of PE deals saw sellers pay an insurance premium, compared to just 2% in non-PE deals

Former Sanne execs set up new fund admin business

Ex-Sanne senior leaders have launched Palmer Street, with £8m backing from Marwyn Value Investors

Bridges promotes seven

Asa David and Nazli Kayalp have been promoted to fund director and fund manager, respectively, and Iveta Grazule is promoted to legal associate

Harbourvest appoints head of client operations

Javier Rodriguez will manage the integration of the firm’s client experience, investment accounting, treasury, portfolio analytics and performance measurement teams

The challengers

Charting the rise of the new fund admin kids on the block, looking to break the mould

Bloomberg partners with Burgiss

Partnership intended to provide custom reporting and increased comparability of funds

Finding the breach

Compliance and financial statements constitute most commonly breached warranties on operational M&A deals

GoldenSource launches investment book of record

The additional functionality was created in partnership with MAIA Technology

TMF Group acquires PartnersAdmin

Fund admin aims to expand presence in North America

Apex acquires Efficient Group

Apex aims to expand its footprint in South Africa

Formidium launches Razor State Consulting

The launch aims to support fund managers with accounting and operational solutions

Altum appoints group chair

Baroness Helena Morrissey has campaigned for diversity and inclusion throughout her career

Core opens for business

The company offers a range of fund administration services for GPs based in Guernsey

Talos partners with Formidium

The partnership combines fund administration services with digital asset trading strategies

Profile: Rebecca Roberts, Conviction VC

Co-founder and COO of Conviction VC, Rebecca Roberts, comments on the importance of understanding the needs of her team when building a successful enterprise

Neutral horizons

Invesco’s 2023 Investment Outlook predicts a neutral valuations environment for the year ahead, despite tricky market conditions

Column: Smooth operator

In a challenging fundraising environment, operational leaders must ensure the machine room is running smoothly, writes Dörte Höppner, chief sustainability officer at The Riverside Company