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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

ESAs publish statement on application of SFDR

The objective is to “achieve an effective and consistent application and national supervision of the SFDR, promoting a level playing field and the protection of investors"

InCloudCounsel opens Singapore office

The firm has hired Jon Crandall as managing director for APAC to lead the office

PE and private debt behind on adopting tech

Broadridge's latest report found only 9% of PE and private debt respondents identified as leaders when it came to using AI, blockchain, the cloud and digital

LP location most important factor in fund structure selection

Alternatives Watch’s 2021 Fund Formation Survey found 20% of respondents cited regulatory regime as another important consideration for dictating the type of fund launched

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

LPs push for DE&I in private markets portfolios

According to Mercer, LPs want DE&I manager programmes implemented and an expansion of DD frameworks to include diversity metrics

PE and VC funds reached $325.9bn in Jersey in 2020

Monterey's latest report found more than 120 new Jersey funds were launched during 2020 collectively totalling $14.5bn

AIFs and UCITS totalled €174bn in December

EFAMA's latest report found AIFs and UCITs net sales totalled €174bn in December, a significant increase from €78bn in November

BWAM launches leadership accelerator course

The six-month programme aims to fast track the careers of mid-to-senior level black female professionals

Domicile watch: February 2021

Key takeaways from the major PE domiciles: including Jersey's recommendations to adapt its framework, Guernsey's latest guidance on cyber security and countering financial crime and terrorist financing, as well as Luxembourg's response to OpenLux

Cost of compliance: 5% of revenue

According to Duff & Phelps latest survey, 23.5% of senior decision-makers of financial services firms expect to spend between 1%-5% of 2021 revenue on regs compliance

iCapital and CAIA Association launch AltsEdge

AltsEdge is an education system which aims to help financial advisors understand alts investment strategies

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

Luxembourg Government and ALFI respond to OpenLux investigations

Statements defend the Grand Duchy’s regulatory standards following the OpenLux investigations, which claimed Luxembourg uses flawed AML frameworks

JTC acquires INDOS

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

BVCA publishes D&I guidelines

The guidance aims to help increase investment in under-represented founders and drive diversity and returns across PE and VC

LemonTree and Reframe announce strategic partnership

The announcement follows two previous partnerships for LemonTree, with Steelbridge and Lionpoint

StepStone becomes The ID Register alliance partner

StepStone Group has been a client of the platform since 2016

Palico launches video-based fundraising

Palicalls enables LPs and GPs to book video meetings via a fully integrated dashboard that collates all relevant fundraising materials, communications and information into one space

AIFMD review response: if it ain’t broke don’t fix it

EFAMA has published its response to the European Commission consultation for an AIFMD review, requesting limited amendments

Jersey brings stability to funds industry

Jersey brings a level of stability to the funds industry that is valued across the board, according to the Government of Jersey

eFront integrates RepRisk ESG data

RepRisk’s dataset enables eFront clients to proactively identify ESG risk exposure in private investments

STRAIT partners with PFA

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

Third of GPs prioritising returns over ESG

According to the latest figures from EY, while 68% of GP respondents take ESG seriously when it comes to investment decisions, a large minority - 32% - said returns are more important

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

Remote working impeding training

EY’s latest CFO survey found 76% of respondents believe the biggest risk to their firms caused by WFH is an inability to train employees quickly

CEPRES partners with KOP Consultancy

The partnership responds to service provider demand to cater to their clients' increasing need for information to support better decision making and to manage risk more effectively

The ID Register gets Guernsey licence

The licence enables The ID Register to carry on controlled investment business in the jurisdiction

Luxembourg to reach €5trn AuM

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

Xolaris granted Liechtenstein AIFM authorisation

Third party AIFM provider Xolaris has been authorised to offer its ManCo services in Liechtenstein

Domicile watch: January 2021

Key takeaways from the major PE domiciles: including Jersey's new definition for AML legislation, changes to Guernsey's private fund regime and Ireland's prep for SFDR

Allvue partners with TrustServe

Allvue will integrate its platform into TrustServe, enabling it to service all closed-ended funds across PE, VC, FoF, RE and family offices

SimCorp and Colmore partner on data service

The partnership integrates Colmore’s INSIGHT (data management) and FAIR (fees) services with SimCorp’s alternatives investment manager offering

iCapital buys AI Insight

AI Insight provides financial advisors investment research, training, qualification and compliance support for a variety of alternative investments

Colmore launches Stride

Stride automates and enhances the collection, extraction and analysis of unstructured data

Private Equity Service Provider Awards: Winners announced

Winners of the Private Equity Service Provider Awards revealed

Cobalt adds cap tables to portfolio monitoring platform

The function allows custom metrics to be edited in-application, downloaded, pulled into various reports and exported

Apex launches tool for ESG regs

Invest Check is a tool to help financial services firms collect data to report and comply with upcoming ESG rules

ILPA publishes model NDA

The template aims to streamline due diligence access for LPs and GPs

Citco opens Abu Dhabi HQ

The firm has also partnered with ADGM to create a sustainable, fully-integrated ecosystem for the investment management industry

LemonTree partners with Lionpoint Group

The partnership aims to deliver complex data and accounting solutions to the private markets sector

Allvue launches LP solution

Allvue’s LP solution claims to support investors’ ability to manage and analyse their alternative investments more efficiently

ESMA reminds firms of MiFID II reverse solicitation rules

The regulator notes that since the UK’s Brexit transition period ended on 31 December 2020, some questionable practices by firms around reverse solicitation have emerged

ESMA and FCA agree MMoU on information exchange

The MMoU explains the FCA’s and EEA authorities’, “willingness to cooperate with each other to maintain confidence in the financial system and preserve financial stability in their respective financial markets

Alter Domus buys Strata Fund Solutions

Strata provides fund administration services to US private equity and venture capital funds

In-house legal responsible for external costs

A new survey conducted by Apperio found that 62% of PE in-house lawyers are accountable for selecting their preferred law firm partners

LPs want better ESG reporting

LPs are seeking more granular detail when it comes to ESG reporting, according to Intertrust Group

IQ-EQ acquires Constellation

The deal brings IQ-EQ's US headcount to 320 people

BWAM gains PE sponsors

Blackstone, CD&R, Goodwin, Latham & Watkins and Livingbridge join as institutional members and sponsors

Capital call levels greater than distributions

Latest findings from Triago and Cebile highlight the oddities of 2020, including the rapid rise of GP-leds

Link Group purchases Casa4Funds

Casa4Funds has been backed by Banor Capital since 2014

Alter Domus buys IPS Fund Services

Boston-based IPS has $9bn of PE and VC assets under administration

Apex acquires GFin

As part of the deal, GFin’s 130 staff will join Apex and the firm’s management team will maintain leadership roles within Apex Mauritius and globally

MJ Hudson buys PERACS

PERACS serves institutional investors and alternative asset fund managers

Irish Funds welcomes LP reform

The trade body predicts The Investment Limited Partnerships (Amendment) Bill 2020, passed in the Dáil, will create 3,000 jobs by 2025 and attract up to €20bn of global private capital each year

Jersey NPPRs up 12%

The number of managers using the national private placement regimes (NPPR) in Jersey has increased by 12% over the past 12 months

Former SS&C ALPs execs launch TrustServe

The new fund administrator aims to challenge the sector by taking advantage of new technology.

IPEV reiterates special guidance ahead of year end

IPEV board reaffirms that fair value is the best measure of valuing private assets