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Profile: Kerrie Chung, Welkin Capital Management

The finance director discusses the firm’s setup when she joined, differences between fund administration for Cayman funds and local RMB funds, as well as Welkin’s tech stack

Apex acquires Prometa

Prometa provides fund services to clients in Canada, the US and Bermuda

IQ-EQ acquires JGM

US-based JGM provides middle and back office services to private equity and real estate firms

Broadridge’s PE platform open for US funds

Private Market Hub is powered by distributed ledger technology

Daring to be different

Having enjoyed several years of stellar growth, have Asian fund managers done enough to ensure their firms are operating in a robust enough manner to weather the gathering global macroeconomic storm?

Legal lowdown: Michael Halford, Goodwin

The partner, co-chair of global private investment funds discusses recent client challenges, thoughts on the FCA’s new AR rules and what he makes of PE’s reputation

JTC launches Irish fund administration services

The launch comes after the fund administrator received regulatory approval from the Central Bank of Ireland

Vauban creates Lux fund launchpad

The platform aims to help emerging managers to launch VC funds in Luxembourg

Setting the record straight

Eric de Montgolfier, CEO of Invest Europe goes beyond the fiction and details the facts about private equity and venture capital in Europe

Domicile watch: July 2022

Key takeaways from the major PE domiciles: including JFA’s new committee, GFSC’s updated blacklist and proposed fees increase as well as FCA’s leadership hires

NAV Fund Administration expands to Mauritius

The firm received a management licence from the Mauritius Financial Services Commission to operate as a managed corporate service provider

Petra opens London office

Former Riverstone European general counsel and head of ESG, Charlie Chipchase, will lead the fund administrator’s new branch

House of Lords slams PE for “financial engineering and tax avoidance”

Lord Sikka pointed to private equity fund and deal structures in Switzerland, Jersey and the Caribbean, created for the purpose of “asset stripping, profit shifting and tax avoidance”

Arrow opens Luxembourg office

The new office will provide fund administration services via a local team

Legal lowdown: Sam Kay, Travers Smith

Partner and head of investment funds discusses PE’s evolution since 1998, the importance of carry, along with the challenges of labelling funds in relation to SFDR and the Taxonomy Regulation

Pinsent Masons expands to Luxembourg

As part of the expansion, Wildgen’s Michel Bulach, David Maria and Mark Shaw have joined the team

Ocorian secures three Irish licences

The fund administrator has received AIFM, fund administration and real asset depositary services licences from the Central Bank of Ireland

Domicile watch: June 2022

Key takeaways from the major PE domiciles: including the FCA’s policy statement on regulated fees and levies for 2022/23, JFSC’s deadline extension for 2022 JPF annual compliance returns and Ireland reaches €4trn for the first time

EFA expands to the Nordics

The fund administrator has opened an office in Stockholm

Private fund managers not ready to comply with SEC regulations

Only 17% of private fund managers surveyed believe their organisations are very prepared to comply with the SEC’s forthcoming reporting and compliance requirements

More signal, less noise: enhancing the UK’s position as a fund domicile

Despite housing the largest asset management industry in Europe, the UK ranks behind other jurisdictions as a domicile of choice for UCITS and AIFs

Profile: Laurent Marvy, PAI Partners

The head of HR discusses the key differences of HR & talent across the globe, PAI’s HR set up and advice for firms wanting to maintain culture in a hybrid environment

Zeidler launches digital sustainable finance module

The module provides practical guidance on sustainable finance regulations, disclosure and reporting obligations

Operational lens: Summa Equity Fund III

Summa’s latest fund was almost quadruple the size of its predecessor, despite being raised remotely. General counsel Martin Sjölund, talks us through their Swedish fund structure, the bespoke onboarding solution, tackling compliance heavy ODD and Summa’s supportive partners.

FundRock expands to the Netherlands

The new office in Amsterdam will provide fund distribution services to clients

Profile: Patrick Camenisch, Evoco Private Equity

The director of finance and operations discusses automating processes, fund administrator challenges, and why Evoco switched fund domicile from Jersey to Luxembourg

Domicile watch: May 2022

Key takeaways from the major PE domiciles: including JFSC’s fee increases, Jersey’s amendment to its Limited Partnership Law and GFSC joining TNFD

Crestbridge secures new Bahrain licence

The licence enables Crestbridge to continue its fund administration work in Bahrain following the restructure of its Middle Eastern business

Legal lowdown: James Oussedik, Sidley Austin

To kick off our legal insights series, James Oussedik, investment funds partner at Sidley Austin discussed his thoughts on AIFMD II and fund domiciliation challenges

Jersey amends limited partnership law

Latest amendments aim to provide fund managers with greater flexibility in international fund structuring

In the dog house

How effective are financial regulators when it comes to keeping private equity in check?

Domicile watch: April 2022

Key takeaways from the major PE domiciles: including Jersey’s NPPR use by AIFs and CIMA’s latest promotions

Highvern receives Irish TCSP authorisation

The authorisation enables the fund administrator to provide corporate administration services to section 110 and SPV structures across alternative asset classes

Domicile watch: March 2022

Key takeaways from the major PE domiciles: including the FCA’s PRIIPs regulation, JFSC’s proposal to increase investment business fees and the latest addition to Guernsey’s blacklist

Kroll launches valuation practice in Lux

The new business is headed up by Armand Kantar, who has been with the company since 2019

An American tail: service providers go West

For European GPs that want to stick with a familiar European service provider Stateside, we explore which businesses have taken their European operational excellence across the pond

Addleshaw Goddard opens Luxembourg office

Fieldfisher’s Richard Ledain Santiago has been appointed as partner to lead the new office

Vistra receives regulatory approval for India’s GIFT City

According to the firm, it is one of the first global organisations to receive this approval

Irish funds reach €3.7bn NAV

The domicile saw an annual increase of 23%, equivalent to €699bn

Guernsey funds reach £303.6bn NAV

We Are Guernsey stated this is the first time the NAV for funds domiciled in Guernsey has reached this level

The pendulum has swung

The recent noise coming from the SEC is largely measured and unsurprising; as the asset class matures of course it should adhere to stricter oversight

Total net sales of European AIFs declined in 2021

EFAMA’s quarterly report found net sales of AIFs fell from €177bn in 2020 to €67bn in 2021

JFSC’s Sharples joins Crestbridge

Ellie Sharples is responsible for monitoring operational performance and management of all regulatory and compliance matters

Profile: James Harper, Apposite Capital

The CFO discusses why he has taken over the IR function, what processes and frameworks he's put in place since joining, as well as how the firm's bespoke DD for ESG differs from their peers

Operational Lens: Pantheon Secondary Opportunities Fund (PSOF)

With a total AUM of $52.3bn, Pantheon is a machine when it comes to fundraising. We take a look at the $624m PSOF, to discover how the pros get the job done.

Apex buys BEST

The business, which expands Apex’s presence in India, provides fund services for PE, FoFs, hedge funds, managed accounts and mutual funds

AssetMetrix expands to London

Clifford Norton joins from Allvue Systems to head up business development across the UK & Ireland

PE fuels Luxembourg AUM growth to €5.9trn

The figure represents a 17.8% increase yoy, equivalent to €886bn, with PE the fastest growing asset class

ATAD 3: How will private equity measure up?

Andrew Howard, Ropes & Gray tax partner, outlines his thoughts on the likely impacts on private equity of the ‘ATAD 3’ EC proposal, designed to prevent the misuse of shell entities for tax purposes

Domicile watch: January 2022

Key takeaways from the major PE domiciles: including the FCA's approach to EU firms temporary UK operations, Central Bank of Ireland's outsourcing guidance, Jersey fee changes and The Bahamas removal from the EU's blacklist

Navigating new rules

Ropes & Gray partner, Eve Ellis, takes a look back at private equity fund regulations throughout 2021, and looks ahead to what's in store for 2022 and beyond

Apex expands to New Zealand

The fund administrator has acquired Auckland-based investment administrator MMC

Suntera acquires Nedgroup Trust

Nedgroup Trust provides fiduciary services to HNWIs, ultra-HNWIs, family offices and owner-managed businesses

Highvern buys Noble Trust Company

The independent boutique trust company provides wealth management solutions and multi-family office services

Profile: James Yates, IK Partners

The CFO & managing partner discusses how the firm has professionalised and institutionalised its processes, his thoughts on Luxembourg as a domicile as well as his hopes for IK's operational functions in the future

KBA appoints CEO of Irish ManCo

Andrew Kehoe has been with KB Associates (KBA) since 2017

Planning permission

A growing number of small managers are taking on full scope AIFM permissions well ahead of time; the market is split on whether or not this is a good move or a big burden

Highvern expands to Ireland

This is the firm’s third office in addition to its presence in Jersey and London

High profile collection

Selection of The Drawdown’s favourite profiles with key operational professionals in 2021

Domicile watch: November-December 2021

Key takeaways from the major PE domiciles: including Ireland’s introduction of a fast-track process for Taxonomy and SFDR regulations, Guernsey’s increased fees and Cyprus’ funds industry’s increasing AUM