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Fundraising & fund structuring

Top of the chain

With the Consumer Duty expected to come into effect on 31 July 2023, the responsibility to comply will apply to the entire supply chain, including fund managers

Citco partners with Fenergo

Citco to integrate Fenergo’s client lifecycle management platform

Valutico closes first financing round

The valuations platform has secured investment from outside investors, including PUSH Ventures, aws Gründerfonds and Erste Group

Crestbridge appoints senior risk and compliance officer

Marie Morris joins from Butterfield Bank to assume the roles of director and money laundering compliance officer

Diligend secures series A and rebrands

Financing round led by Nasdaq Ventures; Diligend becomes Dasseti

Simpson Thacher appoints financial regulatory lawyer

Stephanie Biggs joins from Travers Smith to co-lead the firm’s European financial services and funds regulatory team

Core opens for business

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

Pantheon appoints chief financial officer

Dean Maines joins the firm as CFO and partner, as two senior operations team members are promoted to partner

Tackling tokenization

As GP appetite for tokenization increases, concerns around liquidity, security and regulation need demystifying

Ares Capital appoints first COO

Jana Markowicz is appointed to the newly created role after 18 years’ service at the firm

Venn enhances portfolio analytics platform

The platform’s interpolation functionality uses a public market proxy to deliver an approximated daily return stream for the private market

Talos partners with Formidium

The partnership combines fund administration services with digital asset trading strategies

Crosslake acquires Intechnica

Acquisition sees Crosslake expand its European presence

IDR launches next-generation fund subscription

The service aims to provide a smooth fund subscription service that easily connects GPs and LPs

Apex acquires Luxembourg’s ALFI Partners

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

A question of intent

EFAMA responds to ESA’s consultation on greenwashing, distinguishing between misleading with intent and regulatory uncertainty

Pinsent Masons acquires Morgan Green Advisory

Law firm expands its ESG services by joining forces with sustainability finance consultancy

KBRA reports relative resilience for 2023

Rating agency highlights stability in the private equity and credit sectors

Capital-raising punishment: Painful process

A sleek and streamlined onboarding process is vital to make sure hard-won commitments aren’t scared off

Capital-raising punishment: Laborious letters

An increasingly complex regulatory environment and investor sophistication have resulted in longer side letters. With the rock to be pushed up the hill of compliance getting larger, how can GPs ensure it stays at the top?

Socials savvy

A survey from Prosek Partners has revealed a strong GP social media presence will be key to successful fundraising

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.

Neutral horizons

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

State of New York increases cap on alternative allocations for pensions

Governor has signed bill increasing permitted allocations from 25% to 35%

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

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

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

5 minutes with… David Genn, CEO of Goji

We spoke to the CEO of Goji to find out how they are using digitisation to open up investor access to private equity funds

Comment: Why the DPI performance metric is so important to investors today

ECI’s Jeremy Lytle urges private equity firms to use appropriate performance metrics as macroeconomic turbulence attracts greater investor scrutiny

“Stabilised volatility” on the horizon, says EY

EY predicts the most likely geopolitical developments for PE in 2023 and successful strategy to manage them

A piece of the pie

As the alternative assets sector becomes more attractive for DC pension schemes, fund managers are tasked with scaling up to accommodate liquidity management

UNPRI et al. push for biodiversity

150 financial institutions have called on world leaders to adopt Global Biodiversity Framework at COP15

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

Dealbreaker: ESG standards

To retain investors, a high standard for ESG-related disclosure is becoming crucial

GP commitments greatest concern for LPs

As more LPs are re-evaluating their current manager relationships for 2023, GP commitments to funds, increasing fund sizes and shifts in strategy are their highest concerns

Goji partners with Apex

The partnership aims to streamline onboarding, KYC & AML and digital subscriptions

Exclusion exemption

FCA clarifies which investors are exempt from Consumer Duty in latest quarterly consultation paper

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

Managers downgrading SFDR fund labels

Continued tightening of the SFDR has seen several funds move from Article 9 to Article 8

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

Valuations decrease predicted for Q4

Macroeconomic instability causes valuation concerns for GPs and LPs as Q4 year-end reporting approaches

Fast Funds

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

Go with the flow

Key takeaways from The Drawdown's most recent breakfast briefing event, which discussed the complexities and challenges of information flows from portfolio companies through to investors

Agilitas appoints two finance team members

Mia Sendlbeck and Sam Berry have joined as finance director and finance manager, respectively

Aztec Group hires non-executive director

New York-based Eric Bernstein has joined the fund administrator’s board

GenTwo partners with Apex’s EDB

The partnership aims to facilitate banking services for institutional investors

“QAHC, QAHC!”

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

CSC finalises Intertrust acquisition

CSC first bid for Intertrust in December 2021

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

Ontra acquires Captain

Acquisition will see Ontra build on its digital fund lifecycle management solution

Reed Smith hires partner from Kirkland & Ellis

Romin Dabir joins the firm’s Financial Industry Group

Preferred, professional, pragmatic

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

Saunders re-joins Goodwin

Fund finance specialist Ed Saunders returns to Goodwin after three years at Mayer Brown

IDR launches MLRO offering

The money laundering reporting service covers several fund jurisdictions, including Cayman Islands, Luxembourg, Guernsey, Jersey and the UK

Diversity becomes key metric in fundraising

LPs are increasingly factoring DEI into their capital allocations, says McKinsey