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Sanne buys PraxisIFM’s fund admin

PraxisIFM has sold the business to focus on developing its core divisions of private wealth and corporate services and pension administration

ICG secures €1.45bn ESG-linked sub-line

Facility was provided by Standard Chartered Bank, BNP Paribas, ANZ Banking Group, ING Bank, and Royal Bank of Canada

MJ Hudson buys Guernsey-based Saffery Champness

Deal values Saffery Champness Fund Services (SCFS) at £2.8m

Domicile watch: July 2021

Key takeaways from the major PE domiciles: including Denmark's ranking as most business-friendly domicile, increased fund fees for Jersey and Guernsey's proposal for increasing fees

The Drawdown Awards: GP finalists announced

We are pleased to present the GP finalists for The Drawdown Awards 2021

Majority of PE and VC employees received 2020 pay rise

74% of PE and VC employees received a pay rise last year

IQ-EQ buys Ireland’s DGFM

Acquisition follows launch of a dedicated funds service segment in Ireland in March

State Street acquires Mercatus

Acquisition connected to launch of front-to-back, full-suite investment management platform

Core values biggest influence on ESG attitudes

52% of GPs believe their firm’s core values have the greatest influence on their attitude and activity with regards to ESG and sustainability

Hazeltree partners with Lionpoint

The partnership enables Lionpoint’s treasury management practice to focus on private capital markets

ESG deal DD key dataset for LPs

60% of LPs believe the most important dataset to determine a GP's ESG focus, is the way in which ESG is embedded into the investment process

Carlyle and Mubadala invest in Apex

Fresh capital comes just one month since TA Associates acquired a significant minority in the fund administrator

PartnersAdmin joins forces with Canoe

Through the partnership, Canoe’s technology will be implemented into PartnersAdmin’s platform to automate and scale alternative investment processes

Apollo partners with Figure Technologies

The partnership enables Apollo to apply Figure’s Provenance blockchain technology across the investment lifecycle

Holland Mountain launches ATLAS connector

The connector allows data from multiple sources to be combined to unlock better quality reporting and dashboards in eFront’s platform

MYCDD partners with IDnow

The partnership enables MYCDD to provide its clients with KYC services

FCA, PRA & BoE outline D&I initiatives

“Regulators and industry need to work together to increase diversity at senior levels and ensure the UK’s financial services firms are best equipped to serve the economy”

EU delays SFDR application date

SFDR application has moved from 1 January 2022 to 1 July 2022 to ensure a smooth implementation of the standards

Apex buys Germany’s mola-administration

Hamburg-headquartered mola-administration provides fund admin to PE, VC, debt, special situations and digital assets funds

17Capital closes fifth fund on $2.9bn

The GP has raised $4.5bn in total for preferred equity portfolio financing

The Drawdown Awards 2021: Finalists Announced

Thank you to everyone who entered, and a massive congratulations to all those that made the shortlist

PE career satisfaction remains strong

Majority of GPs are either more or equally satisfied in their jobs as they were 12 months ago

Aliante secures €160m preferred equity

“The Aliante Equity 3 preferred equity transaction is a unique and complex GP-led secondary that reflects the growing adoption of preferred equity for liquidity and add-ons”

Diligend and eVestment announce partnership

The agreement allows clients of both eVestment and Diligend to complete more of their due diligence process via one technology platform

Lack of standardisation biggest threat to ESG

“Without one standardised framework for reporting standards, we will continue to see firms mixing and matching various guidelines, hindering long-term process in the area.”

Northern Trust launches ML document capture

The machine learning document capture tool marks the launch of a series of releases aimed at digitising alternative asset servicing

Apex buys Mainstream for AUD$415m

The deal marks a 133% increase on the original bid

Suntera granted Jersey licence

The licence enables the firm to support PE, VC, RE and other alternative fund managers with a full range of admin services from Jersey

Bridgepoint plans IPO

The private equity firm is hoping to raise around £300m to support growth plans, while providing greater strategic flexibility

Domicile watch: June 2021

Key takeaways from the major PE domiciles: including Guernsey's updated code of corporate governance, Luxembourg's FAQ on MiFID application and Cyprus' new form related to cross-border activities

Ocorian buys Nordic Trustee

The firm focuses on the Nordic bond market, facilitating issuers access to capital, as well as monitoring and securing bondholders' rights

MJ Hudson acquires Clarus Risk

The fintech risk management and reporting automation specialist services alternative asset fund managers and investors

FCA proposes climate-related disclosures

The proposals aim to increase transparency while enabling clients to make considered choices while remaining proportionate for firms

Squire Patton Boggs launches London funds practice

Steven Ward has been hired as investment funds partner to spearhead the development of the new division

Allvue partners with Losange

Losange provides fund administration services, portfolio insights and start-up services to PE and VC funds

North America ahead of Europe on D&I

75% of North American GPs said they are more likely have taken action to support equity and advancement of women and employees from underrepresented groups

Apex acquires Senasen Group

The SaaS platform delivers a self-service offering to enable GPs to publish multimedia content and research, interact with LPs and build their profile

ODD: social media increasingly important

29% of PE LPs now use social media as part of their ODD on potential investee funds

The ID Register partners with KPMG

The alliance provides clients with "a smoother, more cost-effective onboarding fit for purpose in the 21st century"

Alter Domus buys IEA

The firm delivers tech solutions for complex issues such as LP waterfalls, GP carried interest allocations and forecasting to alternative investment managers

TA Associates invests in Apex

Apex was founded in 2003 by Peter Hughes in Bermuda

ThinCats backs Wheelhouse

The fresh capital will be used to address the firm’s growth strategy, extend its client proposition and the firm’s digital transformation

PE needs to spend more on data management

State Street's report found 70% of alternative asset managers said they need to spend more money on data management to handle increased pressures and demands

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

KPMG joins campaign for reporting taxonomy

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

Freyda secures backing from Google

Freyda uses AI and NLP to extract and normalise data from complex documents for pension funds, endowments, asset managers

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

17Capital finances Investcorp assets

The $200m portfolio financing provides 17Capital with exposure to a diverse set of assets

Investec’s Mansy joins Macquarie

Investec is winding down its operations in Australia to focus on the UK and South Africa

Cinven ups bid for Sanne to £1.42bn

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

LPs increasingly concerned by tax and regulatory changes

43% of LPs identified regulatory changes as the greatest risk to PE returns

LemonEdge receives $2.5m

“LemonEdge brings a complete no- and low-code solution to the challenges of general ledger accounting for the private capital market”

Broadridge PE blockchain solution partners with AWS

The platform allows independent auditor access and adds connectivity to existing industry tools and tech to further automate workflows between the front-, middle- and back office functions

Drawbridge launches cyber risk module for PE

The module provides PE funds with a single view to monitor the cyber risk profiles of their portfolio companies in real-time

Arcesium launches performance allocations product

PerformA is tailored for private equity, fund administrators and hedge funds

Private equity must address climate change risk

“Climate change presents unprecedented business opportunities for the industry in addition to risks”

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

Allvue partners with Lionpoint

This partnership enables Allvue’s clients to tap into Lionpoint’s strategic advisory, operating model optimisation, tech road mapping and solution selection as well as systems integration services

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