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Fund administration

Apex bolsters US team

The firm has added a chief business development officer in New York

Highvern appoints two in Ireland

Emma Keane (left) has been named country head while Adrian Bailie (right) steps into the role of head of corporate and capital markets

Mayfair takes majority stake in VG

GP aims to grow the Jersey-based fund admin through expansion, new customer acquisition and strategic M&A

Telemos acquires majority stake in Permian

The Nordic fund administrator was previously majority-owned by Levantor

The Drawdown Awards 2024: The Citco way

The Drawdown talks to Jay Peller of the Citco group of companies (Citco) about its success at The Drawdown Awards

Watch: Accounting for taste

A webinar, in association with Apex Group, on how GPs can ensure they select the right operating model

TMF Group acquires Mexico businesses

The acquisition will expand the fund administrator’s presence in the country

Aztec promotes Choquet to Luxembourg lead

The fund administrator recently launched its AIFM service in Luxembourg

Apex Group acquires NZ custody and accounting business

The move further bolsters the service provider’s presence in New Zealand

TMF Group acquires Vasco Trustees

The acquisition will allow TMF Group offer end-to-end support to funds and institutional clients in Australia

Palmer receives FCA approval

The approval comes just over a year after the company was launched

Moonfare launches semi-liquid strategy

Strategy to focus on secondary investments and address liquidity challenges

Moody’s and MSCI team up

Partnership to enhance ESG transparency and explore private credit market opportunities

IQ-EQ appoints MD for Belgium

Formerly with Deloitte, Philippe Hijazin steps into the role

Apex receives further investment

Fund administrator receives commitment of $1.1bn from Carlyle and Goldman Sachs’ credit businesses

Apex Group appoints private clients and family office head

Katie Baxter joins from Jersey office of Ogier

ACE collaborates with Monite

Partnership to streamline fund capital account history

ZEDRA teams up with CreaPartners

Partnership to expand ZEDRA’s suite of corporate and fund services offerings

JTC acquires FFP

The acquisition strengthens the fund admin’s position in the Cayman Islands

Venture360 launches investor reporting tool

Tool transmits all relevant reports and KPIs to provide investors with on-demand access

Apex launches Unitas

Offering comprises flexible, low-cost fund structuring services for co-investments and feeder funds

Introducing The Drawdown’s fund admin profiles

Head over to our directory to explore the 25-plus fund admins already on the system, including services offered, technology capabilities, our latest coverage on each provider, and more

Apex and ACA team up

Partnership creates co-referral arrangement to enhance overall customer experience

FundGuard teams up with ICE

Partnership to allow users to access ICE’s pricing and reference data through FundGuard

Fund Admin Report 2024

Our 2024 Fund Admin Report - with a comprehensive market overview and in-depth analyses of the latest state of play and more - is now available to download

The changing shape of the fund administration landscape

Consolidation in the fund administration industry is enabling boutique players to provide bespoke services to smaller firms, say Ogier Global’s David Fowler and David Harvey

Push and pull

Nicola Le Brocq, director – funds and corporate at Jersey Finance, discusses the importance of fostering an ecosystem fit for the future

A supportive function

Alter Domus’s Alexander Traub discusses how regulation, fundraising trends and increasingly bespoke investor requirements are placing unprecedented demands on the operations of fund managers

A sustainable fund by any other name

Bruce Jackson, chief of digital asset funds and business at Apex Group, discusses the value of private asset fund tokenisation

Losing ground

The fund administration industry faces a shortage of talent and tech, but is there still time to turn it around?

The future of fund administration is now

Vistra’s Caroline Baker and Rosemary McCollin discuss how proliferating reporting requirements and emerging technologies are creating progress, and frictions, in the private equity sector

Elevating expectations

CSC’s Ram Chandrasekar suggests that alternative fund managers should demand more from their fund administrators

Private equity’s data transformation journey

The ability to access timely, accurate and granular data in an automated fashion is critical to creating an efficient and scalable operating model, says Tim Harvey, Citco’s head of private equity and private credit in North America

Optimising the new for the now

MUFG Investor Services’ chief commercial officer Joseph Latini discusses how preparation and execution are key to success in new global alternative markets

Why is there such a high churn rate in fund administration?

Aidan O’Flanagan, group head of funds at Highvern, investigates the high turnover and transition rates evident in the sector

The trends that cannot be ignored

Michael Johnson from Gen II outlines private equity’s process, technology and talent trends that should be front and centre

Fund administration: The next growth phase

Despite the declining number of fundraisers, climbing demand for outsourcing, technology and cross-border expansion are set to keep the fund administration industry on an upward curve

Aztec executive board reshuffle

Stuart Fulton has joined as CFO, Jane Hanson as chief people officer and Richard Larnder as chief strategy and transformation officer

Petra Funds creates outsourced CFO service

Former CFO at US energy fund White Deer, Erin Rathke, has been appointed as managing director to support the offering

Fundcraft adds Keith Hale to its board of directors

Hale will assume the role of senior adviser

Suntera comes to Kensington

Fund admin opens London office to provide point of access for clients and professional intermediaries

In Conversation: Connecting high tech with high touch

As processes become increasingly automated and data determined, what role will personal connections and interaction play in the future of private markets?

Holtara appoints inaugural global chief commercial officer

Formerly with TimesSquare Capital Management, Yovanka Bylander Arroyo takes up the mantle of global CCO and head of Americas

Ocorian appoints new CFO

Craig Buick succeeds Gavin James who is now retired from full-time employment

Vestberry closes on $1m in Series A

Fresh funds to fuel US expansion

Aduro Advisors receives investment from Vitruvian

Fresh funds to support long-term strategic growth

Apex appoints global head of operational transformation

Ken Fullerton steps into the role after nearly two decades at SS&C GlobeOp

Goodwin welcomes Lux-based partner

Virginie Leroy joins the firm’s private investment funds practice

Aztec creates AIFM service in Luxembourg

The fund administrator claims it can now act as single outsourcing partner for European GPs

Apex opens Saudi Arabia office

Fund admin has five offices in the Middle East with new Riyadh location to have the largest headcount

Petra Funds appoints chief of staff

Steven Antonson previously worked in-house at US VC firm Zero Infinity Partners as CFO and COO

Linnovate receives $40m

Funding round was led by Singapore-based alternative investments firm SeaTown

NAV facility volumes up 30% since 2019

Research from Citco suggests minority of facilities used for fund distributions

COO leaves Gen II

Perros joined the fund admin in October 2022 from Citco

Apex Invest appoints MD

John Papesh to head up the offering in Abu Dhabi

Central Bank of Ireland approves two fund admin licences

Fund admins TMF Group and Vistra are now able to service alternative funds in Ireland

Fundcraft raises €5m in Series A

Fresh funds to accelerate product development and international expansion while investors taking more active role in company’s strategy

Socium partners with Axos Bank

Partnership to allow Socium to provide loan file management operations for its clients

Apex partners with Capcade

Partnership creates stakeholder management platform

Profile: Kasun De Silva

From an education in engineering to career beginnings in fund administration, the COO walks us through going in-house, taking on valuations, launching a hedge fund and returning to venture debt

Pictet launches ELTIF

Vehicle set to focus on co-investments in environmental technology

Ennea Capital’s von Herman joins ACE

Former director of operations of VC firm moves to fund admin as VP and head of customer excellence

Apex acquires South African ManCo

Acquisition of IP Management Company is continuation of growing Apex’s ManCo offering

Ocorian launches ESG reporting tool

The SFDR and SDR reporting tool is powered by technology from Treety

3…2…1… lift-outs!

Could back office lift-outs take off in Europe as an alternative to traditional outsourcing?

Compliance issues cost GPs mandates, says Ocorian

Study from Ocorian and Newgate Compliance additionally shows increasing levels of conflict between fund management and compliance teams

Gen II launches data management tool

Company aims to integrate fund data admin with in-house teams and third-party platform, streamlining access

Comment: Retaining control of the detail

Understanding the details, nuances and variables of carry plan management is key for private equity firms aiming to attract and retain talent, argues Ryan Burger of PFA Solutions

Centralis buys up YLP

Company aims to deepen its reach in the Luxembourg fund outsourcing market

FundGuard closes on $100m in Series C

Fresh funds to support product innovation and continued onboarding of new and existing customers

Citco launches document management platform

Offering to combine company’s AI with fund reporting expertise to extract structured data from fund documents

Zurich Insurance Group partners with Pemberton on private debt

Insurer launches Lux-housed ELTIF product to be managed by Pemberton and invest in private debt

Waystone receives FCA approval for LTAF

Company claims to be the first independent ACD to have an LTAF approved by the financial watchdog

No tiff with the LTAF

The Drawdown catches up with Schroders as it gears up to launch LTAF number three to chat operations, investor base and liquidity management

Corvus launches administration business

The company has added fund administration services to its existing legal and compliance business

Domos FS partners with Cascade

Partnership will allow Domos FS’s clients to rely on Cascade for AML and KYC matters

5 minutes with… Will Roxburgh, Khepri

The managing partner talks MJ Hudson management buyout origins, the market consolidation in fund administration and its consequences for the rise of boutique firms

Ocorian’s Nordic Trustee comes to the UK

Anatoly Sorin will head the London team

European Commission rejects ESMA’s ELTIF 2.0 draft RTS

Liquidity mechanisms have been revised to make it easier to set up evergreen funds and to better attract individual investors to private markets, but the proposals still divide the investment community

Khepri snaps up two

Fund admin concludes two acquisitions in order to enhance its corporate accounting and company secretarial lines

Apex appoints head of financial crime

Mark Le Page joins the fund admin from EY where he was extended assurance director

SimCorp and State Street expand partnership in Germany

Collaboration to support State Street’s accounting, fund admin and data processing services in the local market

Second(aries) to none

Pros and cons of tokenisation for the secondaries market

Socium Fund Services partners with GRMA

Regulatory reporting software to be incorporated into US fund administrator’s compliance reporting platform

Cinven invests in Alter Domus

GP to acquire half of the founders’ and Permira’s stakes in the fund admin; aims to grow company in key markets and customer verticals

Amicorp FS launches LP onboarding platform

The cloud-based system AMI-GO enhances the document verification process

5 minutes with… Joanne McEnteggart, IQ-EQ

The global head of debt, capital markets and corporate at IQ-EQ talks about private debt challenges, prioritising talent and Ireland’s prospects as a fund domicile

Tyrannosaurus Regs?

How are global regulators scrutinising AML procedures and is that oversight increasing?

ELTIF 2.0 – A case study

How Moonfare provides liquidity to its investors via an auction process instead of redemptions

Alter Domus forms herd with T-Rex

Partnership to automate EU regulatory reporting for US-based credit firms

Vistra appoints global head of funds

State Street’s Abdel Hmitti assumes the role and is set to relocate to the US

LemonEdge partners with ROYC

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

Seven out of 10 fund managers received AML fines in last two years

Ocorian’s latest survey finds alternative investment firms concerned about increasing AML risks

5 minutes with… Matias Collan, CEO and managing director of ACE Alternatives

The founder of the German-based tech-focused fund admin business discusses the firm’s approach to addressing industry pain points

Carta and Merge combine

The partnership aims to enhance equity management processes

ESG: The fund-of-funds perspective

Once removed from the underlying portfolio, this type of LP is focused on private equity’s journey rather than instant compliance

Palmer launches in Madrid

Fund administrator led by ex-Sanne execs expands its European presence

Ocorian acquires Bovill

Fund administrator adds regulatory consultancy firm into its compliance offering

ESG ratings providers to comply with transparency requirements

The European Commission and Parliament have reached a provisional agreement on how ESMA can supervise these entities

Sweet sorrow

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

LISTEN: Top of the ops: Operational utopia

The Drawdown team tackles the concept of a PE firm that entirely outsources the investment function

IQ-EQ partners with Artex

Partnership aims to assist GPs with risk management through non-traditional insurance instruments

Fundcraft appoints head of fund operations

The digital platform provider has hired Peter Klinkner from IQ-EQ

ATOZ Services swallows up Fund Solutions

Corporate and tax services provider aims to build out its fund admin capabilities

Ocorian partners up

Recently announced partnerships include those with ESG reporting solution Treety and investor onboarding platform Goji

Adepa acquires Fidupar

Two Luxembourg fund admins combine

Alchelyst partners with Goji

Fund admin adopts fintech technology to help digitalise investor onboarding

The ops ‘n’ regs of wealth managers

Amid traditional LPs maxing out their allocations, PE looks to wealth managers to fill the gap – but they come with distinct requirements

Apogem and OA close inaugural GP stakes fund at $1.1bn

RidgeLake Partners will target midmarket GPs with an AUM between $1bn and $10bn

Gen II partners with Canoe

The collaboration aims to assist the fund administrator with automating fund document management

Highvern expands to Guernsey

Company launches fund admin business after building out its private wealth expertise

Ventura Fund Services launches fund admin

US-focused offering to service private equity, venture capital and credit

Apex launches new ESG brand

Holtara is a combined effort from Apex and MJ Hudson, providing data, reporting and advisory services

Deloitte acquires Alto Advisory

Lux-grown target company assists management companies and depositaries with fund oversight activities and regulatory functions

Catalysing fund administration

Independent fund administrator Alchelyst emerges in Ireland and aims to differentiate itself through employee ownership, state-of-the-art tech and close-quarters service culture

Waystone appoints CFO and CITSO

The fund admin welcomes Liliana Solomon and Ian Lilleby to its senior management team

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

Alter Domus launches ELTIF fund admin service

The added functionality supports the administration of private market open-ended funds and includes liquidity management support

Q&A: Outsourcing utopia

Tim Harvey of Citco Fund Services (USA inc), explains how it is vital to build a real partnership with your fund admin

Operational utopia

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