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InCloudCounsel secures $200m Series B

The contract automation company has also rebranded to Ontra

Blockchain and big data most important future tech tools

Intertrust Group’s latest report found 46% of respondents cited blockchain/DLT as the most important tech tool for private capital funds over the next five years

MJ Hudson releases ESG Advantage

ESG Advantage guides users on a step-by-step basis through the assessment process by tracking important data and automating analysis and reporting

SEI buys Finomial

Deal aimed at enhancing cloud-native technology capabilities

Domicile watch: October 2021

Key takeaways from the major PE domiciles: including the FCA's position on LTAF, Jersey's amended law which makes risk-based supervision a legal requirement and Guernsey's revised regulatory laws

FCA moves ahead with LTAF

The rules aim to provide sufficient investor protection and enable DC pension schemes to invest in the LTAF

JTC buys perfORM

perfORM was set up as an ODD business for LPs to use across PE, private credit, RE, infras, hedge, crypto and digital assets

MSCI and Burgiss launch Carbon Footprinting tool

Tool combines private company data from Burgiss with modelling developed by MSCI ESG Research for estimating corporate carbon emissions

CAIS partners with Digital Asset

Partnership will explore use of blockchain, distributed ledgers and smart contracts between wealth management and alternative investments

LPs increasingly aware of data gaps in ESG reporting

The quality of ESG reporting is improving in private equity, but not enough areas are being covered

GP transparency and tech: room for improvement

According to SS&C Intralinks' survey, 69% of LPs were ‘moderately satisfied’ with the technology capabilities of the GPs they currently invest with

EQT formalises SBTs to address climate change

EQT has become the first private markets firm to do so, through the SBTi

FactSet buys Cobalt

The acquisition expands the firm's private markets offering

INDOS secures Irish depositary licence

The firm received the licence from the Central Bank of Ireland

LPs paying more for administrative costs

25% of LPs are being charged separately for expenses such as in-house legal, accounting and computer software

Broadridge launches AI-powered AML solution

Machine-learning-based solution is for financial services firms that want to enhance their AML surveillance to detect illicit money flows and bad actors

Former Investec execs launch fund finance provider NLC

Neno Raic and Slade Spalding, who worked together at Investec Bank’s Funds Solution Group aim to revolutionise capital call financing

A&M launches origination tech

“Rapid deal identification and deal idea generation are common, time consuming challenges across the private equity landscape.”

UK male managing partners earn €200k more than female counterparts

UK male managing partners earn €774.30k on average, while UK female managing partners earn €545.83k

Two-thirds of ethnic minority financial services employees experience discrimination

“There is more work for all of us, and the problems and challenges that remain will only be solved if we address them collectively. This must have everyone’s attention.” -- Joerg Ambrosius

P10 acquires Hark and Bonaccord

P10 is made up of RCP Advisors, TrueBridge Capital Partners, Five Points Capital, and Enhanced Capital

Only 50% of GPs measuring carbon footprint

According to Apex research, 81% of GPs agreed they and their portfolio companies should take more responsibility for their carbon footprint

Alpha FX launches alternative banking platform

Solution allows GPs to open overseas bank accounts in less than a week

RFA launches Application Lifecycle Management

The tool provides an additional step that performs a static code of analysis against security vulnerabilities during the build process

Ambienta bolsters operations team

Michela D'Isita joins as head of human resources, Virginia Fortunato as head of administration, Fabia Bernacchi as head of marketing and communications, Daniela Popa as ESG manager and Alessio Vian and Fabrizio Sebastiani as finance associates.

The Drawdown Awards 2021: Winners announced

Congratulations to the winners of our recent 2021 Drawdown Awards

CSC secures Luxembourg licences

In addition, CSC hired Pierre Mifsud as MD for depositary services, and Yves Cheret as MD for fund admin

Net zero financial service providers alliance launches

The alliance was launched to accelerate the transition to a net zero financial system

JTC buys Ballybunion

The Dublin-based firm provides management and regulatory oversight services to investment funds

AnaCap spins out its tech platform

“Equipped AI allows individuals and companies to analyse vast lakes of data in real-time, helping to map and execute investment strategies across multiple geographies.” -- Mike Edwards

JTC buys Segue

Segue provides fund solutions to private equity, venture capital, debt funds and family offices

Apex partners with VCP Advisors

VCP provides advisory, capital raising and restructuring services

Less than half of LPs accept standard DDQs

DiligenceVault found 58.8% of LPs send custom DDQs to their managers

ACA buys Catelas

The ML-based electronic communications (eComms) surveillance and investigations platform will integrate with ACA's regtech platform ComplianceAlpha

Northern Trust launches AI data extraction solution

The solution reads stored documents and fund manager reports on holdings and performance of PE, hedge funds and other alternatives, and pulls out specific data points

Synechron partners with Accelex

Partnership aims to accelerate unstructured data extraction and management

Inveniam secures $25m series-A

"The use of blockchain to transmit trust in data will drive automation in valuation and price discovery in the private markets"

Drawbridge hires three

Adam Menkes is global head of ops, Jacob Cane is head of strategy, while Art Murphy is director of BD

Standish expands to UK

Following authorisation from the FCA, the London office provides UK administration and depositary services

CDP aims to standardise environmental data

It aims to increase disclosure from private companies, which have previously avoided scrutiny on environmental issues and pressure to decarbonise

SS&C launches ESG reporting solution

"We see the growing manager and investor demand to incorporate ESG metrics into client reporting at the manager and portfolio level."

Suntera acquires NeoTrust

NeoTrust provides bespoke fund and corporate services to PE and RE, institutional clients, large and mid-sized firms as well as HNWIs

EFA adopts NeoXam

NeoXam’s Impress platform covers the full reporting process

Mainstream adopts Harmonate

The partnership enables Mainstream to automate private capital data operations

Waystone partners with The ID Register

The partnership provides Cayman funds with an AML/KYC and onboarding solution

Carlyle secures €2.3bn ESG-linked facility

Revolving credit facility is linked to boosting board diversity, tackling climate change and ESG-competent training

Citco opens Hyderabad office

The new office provides fund servicing, banking as well as technology support functions

GP commitments increase

According to MJ Hudson, more fund managers contributed a 3% GP commitment compared to those who committed 2% or less last year

Aumni secures $50m series B

Through a combination of AI and human expertise, Alumni’s platform extracts and analyses critical deal data buried in dense legal agreements

Suntera acquires Reference

Reference provides central and corporate administration, accounting and tax compliance, family office, directorship, company secretarial, domiciliation and incorporation services

Domicile watch: August 2021

Key takeaways from the major PE domiciles: including the FCA's third consultation paper on UK IFPR, Guernsey's appointment of a strategic adviser for green and sustainable finance and Hong Kong's SFC amended fund manager code of conduct

Accelex expands automation capabilities

The new feature enables firms to streamline investor operations to process thousands of private markets fund performance reports each quarter

Ogier launches ESG compliance tool

The tool aims to help fund managers get up to speed with ESG themes, terminology, regulatory requirements as well as climate-related risk in portfolio management

ILPA seeks feedback on DDQ and DEI metrics

These latest updates aim to reflect the changes in the industry over the past several years, specifically around ESG and DEI

Allvue partners with Snowflake

The new data lake solution enables clients to warehouse and manage all of their data on one system

Holland Mountain expands to US

“It was a logical next step to establish a permanent base of operations in the US to service our growing client base”

Crestbridge granted Irish licence

The firm received regulatory approval from the Central Bank of Ireland to provide fund admin services in Ireland

Preqin acquires Colmore

The acquisition enables both firms to serve their clients across the entire private market investment lifecycle, from fundraising to due diligence and portfolio monitoring

Wheelhouse partners with RFA

The partnership aims to help investment firms with specific reporting and compliance requirements

Apex buys ASR

ASR provides Swiss representation and distribution services to foreign fund managers, which seek to market their funds in Switzerland