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Domiciles

Core opens for business

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

Apex acquires Luxembourg’s ALFI Partners

The acquisition aims to deliver a cross-border fund-distribution solution

Regulatory roadmap 2023

ESG is set to be the biggest bump in the regulatory roadmap for 2023, along with AIFMD and AML reforms in tow

Highvern Ireland to offer fund administration services

The Central Bank of Ireland has granted the firm regulatory approval for fund administration services

RedeWire portal to tackle restrictive marketing rules

Built against a backdrop of complex marketing regulations and tough fundraising conditions, Rede’s new LP portal gathers new fund offerings in one place

Capital raising punishment: Marketing madness

Compliance and legal obligations for raising a fund have been building steadily in recent years. But given the sudden tightening of the fundraising market, the myriad rules managers must navigate have made capital raising a punishingly cruel exercise.

Pinsent’s Bowen joins K&L to launch Dublin office

Gayle Bowen is joined by Shane Geraghty and Michelle Lloyd as founding partners

Edinburgh reforms cement UK financial divergence

The Chancellor of the Exchequer revealed more than 30 regulatory reforms to the UK financial industry to drive competitiveness and growth

Comment: Known or knowable? It depends

Nic Müller, CEO of Avega Capital Management, looks at a recent clarification to the IPEV guidelines, and hopes greater harmonisation is coming

Asante expands to Munich

George Lyons will serve as director of the Munich office

Oak Group makes two appointments

Oak has hired Belinda Ridout as director of client accounting and Hannah Crocker as company secretary

In conversation: Stake house

Highlights from a recent roundtable discussing the evolution of GP stake sales and what value they can bring to private equity firms

Fast Funds

Fund managers are increasingly turning to Jersey due to the speed, flexibility and efficiencies offered by its fund structures

“QAHC, QAHC!”

The Qualifying Asset Holding Company regime is set to close the gap between the UK and other fund domiciles

Ireland makes tax changes

The Finance Bill 2022 introduces amendments around reporting, VAT treatment and enforcement for alternative asset managers

Looking back to look forward

By looking back at how and where the international funds industry has evolved, we can better understand how the sector might develop in the future, argues Elliot Refson, head of funds at Jersey Finance

Preferred, professional, pragmatic

Pierre Weimerskirch, regional head, Luxembourg at Apex Group, discusses the emergent opportunities facing Europe’s largest centre for domiciled funds

Hot contest

The race to be private equity’s domicile of choice is speeding up, but which jurisdiction is really gaining ground?

Hamilton Lane to offer tokenization

Partnership with Securitize will digitally expand investor access to its funds via new tokenized feeder funds

Comment: The Mother of Invention

James Wood, investment funds partner at Hogan Lovells in Sydney, explores fund structuring innovations throughout the APAC region

US managers look at Jersey for structured finance

Jersey Finance estimates more than 110 securitization structures were registered during the first half of 2022

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

Profile: Kenta Shima, J-STAR

The head of operations & IR discusses the Japanese private equity market, challenges within his role, J-STAR’s tech stack and setting up the firm’s latest fund

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

TDA 2022 Legal: Fund Formation winner: Travers Smith

Sam Kay, funds partner at Travers Smith describes what's enabled the firm to have such a deep understanding of the market

TDA 2022 Advisory/Consultancy: Fundraising winner: Asante Capital Group

The placement agent's team explains how they support each and every project to ensure their clients are successful

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

FCA consults on retail access to LTAFs

The regulator has proposed draft rules to open up access to a broader range of retail investors, while providing further investor protection

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

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

LP appetite for PE suffers sharp decline

The Rede Liquidity Index score has decreased from 70 in 2021 to 55 for H1 2022 signalling a sharp fall in LP investor appetite.

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

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

ESMA consults on cross-border activity notifications

The proposals aim to standardise the process of notifying EU member state NCAs using standardised information and templates

Jersey amends limited partnership law

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

Profile: Susan Wilkins, Actis

The COO discusses her pathway from Actis portfolio company to the GP, taking over management of Abraaj funds and her role as a member of the inclusion & diversity committee

Profile: Razzak Akbar, Freshstream

The CFO discusses Freshstream’s spinout from Bregal, the ongoing relationship between the two firms and setting up the Dutch office

Zedra acquires Atlas Fund Services

The firm also received a minority investment from British Columbia Investment Management Corporation

Domicile watch: April 2022

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

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