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Outsourcing

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

A guide to continuation funds

Jeffrey Bronheim, Daniel Mathias and James Mossetto of Cohen & Gresser detail key documentation considerations in where conflicts of interest may potentially arise, and why this trend is likely to continue

The Techwork

Private equity's digital transformation has undoubtedly been catalysed by events of the past year

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

Advisory / Consultancy: Tax & Compliance award winner: Macfarlanes

Partner Ceinwen Rees highlights the importance of the firm's technical training sessions

Maples promotes de Feu to partner

He advises clients on Irish law

Advisory / Consultancy: ESG award winner: Sancroft International Limited

Senior consultant Ivaylo Dimov discusses the importance of knowing what ESG means to a firm and equally what it doesn’t or shouldn’t mean

Advisory / Consultancy: Operations & Technology award winner: Holland Mountain

CEO Barnaby Piggott talks about why clients value the firm's independence

Fund Finance Provider award winner: Raiffeisen Bank International

RBI's William Lamain explains why being one step ahead is vital in the competitive fund finance space

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

Legal: Fund Structuring award winner: Travers Smith

Fund partner Sam Kay merits the win to the firm's heritage in private equity as well as its active thought leadership

IQ-EQ selects Allvue for private debt & credit

The debt desk will employ FIS software for accounting and transfer agency services, DX as the 24/7 online client portal, as well as IQ-EQ’s proprietary reporting system, IQ-EQ Cosmos

CFO of the Year award winner: Steve Darrington, Phoenix Equity Partners

Partner & CFO at Phoenix discusses winning a Drawdown award, setting up processes from the very beginning as well as how he's ensured ESG continues to be at the heart of the firm

Auxadi appoints five

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

Palatine invests in Anthesis

The fresh capital will support Anthesis’ growth plans, both organic and acquisitive, as well as accelerating its digitalisation

Long Ridge backs Drawbridge

Cyber security provider Drawbridge currently counts 300 alternative asset manager clients

Former Apex trio launch Oakbridge Funds

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

Technology: Cyber Security award winner: ACA Aponix

Partner Mike Pappacena explains why the firm is moving into ESG

Kirkland & Ellis’ Townsend joins Ropes & Gray

Townsend advises European and global firms on the establishment and structuring of private funds

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

Ropes & Gray appoints funds partner Brown

Emily Brown will join the firm next month from Schulte Roth & Zabel where she has been a partner since 2018

TiG acquires ThirdSpace

The deal was backed by BGF, with financing provided by Santander’s Growth Capital team.

Ocorian purchases Platinum Compliance

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

Consero buys BridgeView CFO Solutions

The deal expands Consero’s suite of solutions to include HR and payroll services for its existing client base

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?

Blackstone’s Bailhache joins Simpson Thacher

Geoff Bailhache has joined the firm’s London office as a partner

IQ-EQ targets fund services in Ireland

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

Comment: Choosing the right auditor

Karen Allan of Haysmacintyre outlines why a move to a mid-tier auditor can reap multiple benefits

Hawksford receives investment from STAR

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

MJ Hudson names new partners

Stephen Sims and Whitney Lutgen are partners in the private funds practice while Ronan McCann is partner in the firm's VC and tech division

The Perfect Match: Finding the ideal fund finance solution partner

OakNorth's Mohith Sondhi details a recent subscription line facility placed with private equity firm Bluegem

IQ-EQ’s Lawson Conner hires MD

Rachel Aldridge will manage the day-to-day operations, execute strategic initiatives and ensure consistent client service delivery

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 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

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

LemonTree and Reframe announce strategic partnership

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

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

Linklaters’ Ghillemyn joins Goodwin

Ghillemyn’s practice focuses on fund finance, banking regulatory matters, securitization, listing of debt securities, complex cross-border restructuring and insolvency

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

Xolaris granted Liechtenstein AIFM authorisation

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

Spending power: Getting a handle on legal expenses

A recent webinar discussion looked under the bonnet of legal spending

DMS’ Power joins Prescient

Finian Power joins the firm's Dublin office

Under attack

With continued remote and hybrid working conditions, all team members need to be more vigilant than ever when it comes to cyber security