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Regs & Compliance

5 minutes with… Will Roxburgh, Khepri

The managing partner talks MJ Hudson management buyout origins, the market consolidation in fund administration and its consequences for the rise of boutique firms

European Commission rejects ESMA’s ELTIF 2.0 draft RTS

Liquidity mechanisms have been revised to make it easier to set up evergreen funds and to better attract individual investors to private markets, but the proposals still divide the investment community

Stake a chance on… Scarcity Partners

The firm uses an evergreen structure to slow-cook emerging managers in a land down under

Comment: This far, but no further

Charlie Chipchase, managing director and head of Europe at Petra Funds Group, assesses whether the SEC’s long-awaited Climate Disclosure Rule goes too far or not far enough

UK government set to regulate ESG ratings providers

A separate consultation will follow the announcement, which came as part of the Spring Budget

FCA increases AML oversight

Recipients of the regulator’s recent Dear CEO letter have six months to perform a gap analysis

Atlas Metrics partners with Bunch

The partnership combines Bunch's investor portal with Atlas Metric's ESG reporting platform

Kroll launches two fraud solution tools

Risk Analytics Monitor and Managed Compliance Software use data analytics and AI technology to help automate risk management workflows

FCA consults on open investigations

The UK regulator expects to publish more information on ongoing investigations, whether or not any breaches have been made

5 minutes with… Joanne McEnteggart, IQ-EQ

The global head of debt, capital markets and corporate at IQ-EQ talks about private debt challenges, prioritising talent and Ireland’s prospects as a fund domicile

Tyrannosaurus Regs?

How are global regulators scrutinising AML procedures and is that oversight increasing?

Next stop – carried interest

Liquidity event delays are having an effect on waterfall calculation models

A&M partners with Pactio

Partnership enhances the firm’s M&A tax advisory services with Pactio’s transaction structuring automation tools

Seven out of 10 fund managers received AML fines in last two years

Ocorian’s latest survey finds alternative investment firms concerned about increasing AML risks

Palmer launches in Madrid

Fund administrator led by ex-Sanne execs expands its European presence

Ocorian acquires Bovill

Fund administrator adds regulatory consultancy firm into its compliance offering

Comment: Court controversy

Matthew Pincus, international counsel at Debevoise & Plimpton, warns that a recent court decision increases risk for non-US funds active in the US

Deloitte partners with Workiva and Informatica

The collaboration integrates AI data management and cloud-based reporting into the advisory’s ESG compliance services

Ontra further builds on GPT-4 functionality

Company aims to accelerate expansion into more document types and launch additional features

LeadingMile partners with Qashqade

The partnership aims to increase European GP access to automated waterfall calculations and cap-table monitoring

Sweet sorrow

The alluring attraction of semi-liquid strategies brings with it a cautionary 
tale of liquidity (mis)management

Robin AI launches contract defined-term checker

The additional feature means contract terms can be automatically verified and located within a document

Apheon promotes seven

John Mansvelt is now COO as Loïc Cerfontaine succeeds him as CFO

Lombard Odier IM appoints COO

Adam Molina succeeds Alexandre Meyer, now managing partner of the group

ATOZ Services swallows up Fund Solutions

Corporate and tax services provider aims to build out its fund admin capabilities

Partners Group appoints CFO

Joris Gröflin joins from Swiss renewable energy producer Axpo Group

Financial Policy Committee outlines systemic risks in private credit

More regulatory scrutiny is expected to be placed on valuations, risk management, liquidity and leverage mechanisms to monitor systemic risks in private credit

Ocorian partners up

Recently announced partnerships include those with ESG reporting solution Treety and investor onboarding platform Goji

Intelligent Legal Solutions enters market with side-letter management solution

Company aims to automate side-letter management for law firms and keep billable hours for private equity firms down

Adepa acquires Fidupar

Two Luxembourg fund admins combine

Alchelyst partners with Goji

Fund admin adopts fintech technology to help digitalise investor onboarding

Discovery gone digital

VC fund-of-funds AlphaQ has launched AQVC discovery platform, a digital hub connecting LPs, GPs and service providers

The ops ‘n’ regs of wealth managers

Amid traditional LPs maxing out their allocations, PE looks to wealth managers to fill the gap – but they come with distinct requirements

ESAs publish DORA draft RTS

Subject to approval by the European Commission, the technical standards outline the framework for good governance of ICT critical third parties

Ecovadis adds Vitals to IQ Plus platform

Vitals is a questionnaire aimed at helping businesses manage supply chain sustainability risks

Dawn promotes four

In the ops team (pictured), the firm has promoted Adina Goga to director of legal and Gamila Hassan to talent acquisition lead

Pollen Street appoints new CFO

Lucy Tilley succeeds Julian Dale as he steps down from the role

Highvern expands to Guernsey

Company launches fund admin business after building out its private wealth expertise

Comment: Pain relief from PTR

Jacqueline Petts, partner at Greyhound Capital, says the new Preferential Treatment Rules make the case for AI even more compelling

What the AI?!... Ropes & Gray

Partner Rohan Massey and counsel Edward Machin at Ropes & Gray discuss how AI regulation might develop, along with key legal considerations for fund managers contemplating the technology’s adoption

Deloitte acquires Alto Advisory

Lux-grown target company assists management companies and depositaries with fund oversight activities and regulatory functions

Catalysing fund administration

Independent fund administrator Alchelyst emerges in Ireland and aims to differentiate itself through employee ownership, state-of-the-art tech and close-quarters service culture

ALFI appoints new DG

Serge Weyland joins from Edmond de Rothschild and replaces Camille Thommes who held the position for 17 years

A&M Tax appoints ASEAN tax lead

Singapore-based Shantini Ramachandra was previously a partner at Deloitte

Dear Irish AIFMs…

After the Central Bank of Ireland’s review of asset valuation processes, Irish AIFMs must make sure their governance models are up to scratch before the end of Q2 2024

Goodwin expands Luxembourg funds team

Baker McKenzie’s Julien Schraub and Deloitte’s Céline Moille join as counsel while Philip Spilberg is promoted in the private investment funds practice

UK regulators consult on the operational resilience of critical third parties

FCA, PRA and Bank of England welcome feedback on the proposed framework deeming certain third-party organisations as ‘critical’, to reduce any associated systemic risks to the financial services industry

Alter Domus launches ELTIF fund admin service

The added functionality supports the administration of private market open-ended funds and includes liquidity management support

Park Square makes round of promotions

Andrew Haywood is now COO, Luke Varley is general counsel and Matthew Maguire assumes the role of CFO

Profile: John Mansvelt, Apheon

CFO and AIFM conducting officer tells the story of his transition from audit to PE, his key governance duties and shaping a new cultural identity

EY expands UK private credit tax team

Gabriel Iliuta (pictured) and Elliott Morley join as partners to the firm

Comment: The building blocks

Karma Samdup and Vicki Odette, partners at Haynes & Boone, explore the core elements needed when building a successful PE firm

Operational utopia

If operations professionals made all the decisions, what would the perfect PE firm look like?

Got Your Back acquires Nordic Depositary Services

Fund administrator expands capabilities in real estate and infrastructure depositary services

Efama argues for sustainable product categories

Call comes in wake of publication of the UK’s SDR and as SFDR consultation is underway

Apex engulfs Edmond de Rothschild’s asset servicing line

The acquisition of EdR’s Luxembourg PE fund admin division represents Apex’s latest takeover

Canoe partners with K1x

Fintech company pushes the boat out with additional tax document automation functionality

The ELTIF on the shelf

ESMA’s final draft ELTIF Regulatory Technical Standards have been released, subject to the European Commission's approval

Voluntary ESG ratings code of conduct launches

ICMA and IRSG have launched the code to increase transparency in the services of ESG data providers

Nikko plans Tikehau stake

The anticipated acquisition is said to be accompanied by the establishment of a joint venture, which focuses on investments in Asia