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Fund administration

KPMG joins campaign for reporting taxonomy

KPMG UK has become a founding member of Private Capital Data Standards Alliance (PCDS Alliance – formerly ADS Initiative)

Northern Trust extends capabilities in Switzerland

The firm received regulatory approval to provide custodian, depositary, transfer agency and ancillary services in Switzerland

Alter Domus launches Irish AIFM

Alter Domus has acquired Beechbrook Capital’s Irish AIFM and received authorisation from the Central Bank of Ireland for specialised depositary services

CFOs prioritise cost reductions

Aztec's latest report found 23% of PE CFO/COOs said their main focus this year is to reduce operating costs

Cinven ups bid for Sanne to £1.42bn

Cinven increased its offer by 13% on Sanne’s last closing price before the latest announcement

JP Morgan’s Hughes joins Ocorian

He joined from JP Morgan where he was managing director & global head of custody for the last four years

CSC buys PEF Services

The acquisition has accelerated CSC’s fund services growth plans in the US, as well as added expertise and a robust tech platform to CSC’s suite of solutions

Apex buys BRL Trust Investimentos

Founded in 2005, BRL Trust provides fiduciary services, administration, management, custody (and representation for foreign investors), controlling and registrar of investment funds to clients

Be an architect (not a gardener)

Launching credit strategies is back in vogue, but this time around careful consideration is needed when it comes to designing and scaling operations

5 minutes with… Simon Page, Hawksford

"We’ve had the benefit of learning from the mistakes other firms have made."

Aztec opens US office

The new office specialises in fund and corporate accounting and administration for PE, VC, private debt, infrastructure, and RE sectors

Crestbridge’s Bird joins Argentex

He focuses on FX execution and hedging strategies for clients across PE, corporate, RE, insurance and infrastructure

Caceis appoints head of depositary services

Sam Maybrey joined from JP Morgan where he was vice president for the last 11 years

CSC secures Irish depositary licence

The firm received its Irish fund administration licence last year

Apex acquires Tzur Management

The deal marks the fund administrator's expansion into Israel

Sanne declines Cinven’s £1.35bn offer

Takeover bid highlights strong appetite for fund administrator take-privates

IQ-EQ’s Davies joins Centaur

Davies will support Centaur’s private equity client and define the firm’s PE strategy and business development plans

Ultimus hires Anduiza

He is responsible for growing revenue of the private fund administration business

Crestbridge’s Newton joins LGL

He is responsible for the leadership, strategic growth and operations of LGL’s Jersey business

WATCH: What do LPs do with all the data?

A recent webinar discussion explored the way in which data is being communicated, how technology is helping both GPs and LPs, and what LPs are doing with all the information

5 minutes with…  Robin de Gruchy-Wilson, Oakbridge Fund Services

The co-founder & managing director discusses the firm’s key focuses, how it secured backing from ED Group as well as technology and platforms it currently uses

HWM acquires Koger

The deal has been backed by Lovell Minnick Partners, a financial services and tech-focused PE firm

LISTEN: Do we even need standardisation? Episode 2

The second instalment of a recent podcast discussion examined industry body reporting efforts, and asked if standardised reporting is still necessary?

Domicile watch: April 2021

Key takeaways from the major PE domiciles: including JFSC's concerns in JPF service provision, Guernsey's updated PIF rules and Cyprus' growing funds industry

Raft of hires for Ocorian

The firm hired Andrew Stewart, Natasha Head, Vivienne Fitzpatrick, William Turmann and Chris Mayfield as business development directors

Right-sourcing

A year of remote working has catalysed already changing attitudes when it comes to recruitment versus outsourcing

FundRock launches EU distribution service

The operation aim to support US, UK, Asia and other third country asset managers distributing funds across the EU.

LISTEN: Do we even need standardisation? Episode 1

A recent podcast discussion explored technological advances in data transmission, and asked if standardised reporting is still necessary?

5 minutes with… Charlie Jolly, RSM

The head of private equity discusses how RSM supports GP fund restructurings; the importance of valuations, and the latest innovations within the process

TMF Group buys Venture Back Office

VBO provides fund admin, investor services, as well as portfolio management solutions to PE, real assets, credit and emerging manager funds

Agile fund management

The major advantage of setting up something fresh is having a clean slate with the ability to adopt the latest learnings and technologies. This is exactly what fund administrator Highvern did when it set up its processes and ways of working

Sanne acquires STRAIT

STRAIT provides fund administration, financial oversight and regulatory compliance services for PE, FoF, SPVs, family offices, hedge funds and other investment vehicles

Fund Administration: Technology & Innovation award winner: Citco

Head of PE Nikolaos Perros explains why having an internal tech team and proprietary solutions is so important

MUFG IS launches ESG reporting tool

The reporting tool initially uses RepRisk data and MUFG IS plans to add further data sources

Allvue partners with Got Your Back

The partnership provides fund accounting solutions for Got Your Back's alternative fund management clients

Fund Administration: Over $50bn AUA award winner: Alter Domus

Head of PE Tim Toska discusses why he's not concerned about the company turning into a large, institutional fund admin

Fund administration: Under $50bn AUA award winner: Highvern

Head of funds at Highvern Aidan O'Flanagan, explains why putting clients, technology and staff first is a subtle but important difference in the fund admin space and outlines how their systems have been designed to cater for today's requirements

Domicile watch: March 2021

Key takeaways from the major PE domiciles: including Jersey's changes to its AML/CFT handbooks, Guernsey's review of its Green Fund accreditation and Ireland's Green Team network launch

Column: Healthy competition

Riverside Europe COO Dörte Höppner, one of the judges for The Drawdown Awards, details the importance of good service and healthy competition when it comes to service providers

IPES’ Gillson joins PraxisIFM’s board

The firm will announce a new chair in due course

Rising Star of the Year award winner: Dawid Sawicki, Kennet Partners

The financial controller discusses winning the Rising Star award, stepping up to FC during the finance team's transition period and various processes, systems and the CFO forum he's implemented

Mainspring partners with Aspida Group

The partnership aims to service Guernsey-domiciled private equity and venture capital funds

Auxadi appoints five

Inflexion-backed Auxadi provides corporate services to private equity and real estate firms

Former Apex trio launch Oakbridge Funds

The independent fund administrator is majority owned by investment firm ED Group

Crestbridge opens Dublin office

The firm is currently authorised to provide corporate services in Ireland and is aiming to provide fund admin services soon

And the winner is…

Entrants to The Drawdown's Awards were asked to demonstrate business growth, innovation and client satisfaction. While the winners were rewarded based on these metrics, what's clear from speaking to all of the successful groups is they all shared three additional commonalities

Ocorian purchases Platinum Compliance

Deal follows the fund administrator's acquisition of Newgate Compliance in December 2020

Deeper Perspective: The UK Funds Regime

Benjamin Lamping, founder of Reframe Capital asks: Are we at risk of missing a potential watershed moment for the UK funds industry, and a genuine post-Brexit opportunity?

IQ-EQ targets fund services in Ireland

The firm received fund administrator authorisation from the Central Bank of Ireland in December

Hawksford receives investment from STAR

The fresh capital will be used to support Hawksford’s acquisitive growth strategy

Standish partners with Redwood Valuation

The partnership enables Redwood to offer Standish clients a wide array of valuation services in a streamlined, high quality and cost effective manner

The ins and outs of outsourcing: An evaluation guide for selecting the right vendor

InCloudCounsel CEO of co-founder Troy Pospisil says firms must "ask the tough-but-important questions about the service provider’s team, products, and business"

Cost of meeting LP data demands: $5.5bn

Intertrust's latest report found 64% of CFOs expect LPs to want daily/live updates on ESG, while 50% expect them to require frequent updates on operational service level agreements

JTC acquires INDOS

INDOS provides depository, ESG and AML oversight services to the alternative funds sector

Profile: Jasi Halai, 3i

The group financial controller & operating officer discusses working within the finance dept of a listed firm, leading system implementations and transformations as well as her role in the firm's committees

GAAP in Lux

Avega Capital Management’s Nic Mueller discusses why the Grand Duchy’s new interpretation of accounting standards is important for private equity funds

STRAIT partners with PFA

The partnership will develop STRAITView, a manager-facing dashboard solution that will sit on PFA Solutions’ FirmVew platform

GPs prioritise D&I

According to EY's latest report, 56% of GPs are aiming to increase gender representation this year compared to 47% in 2020, according to a new report

Crestbridge appoints legal and compliance specialist

Anika Ratzmann is responsible for the development and management of the legal and compliance divisions and will help with strategic growth

Luxembourg to reach €5trn AuM

Luxembourg remains popular with funds industry as total AuM set to reach €5trn