BNP Paribas Securities Services has been selected by First Plus Asset Management to provide fund administration services for funds using Singapore’s variable capital company (VCC) structure. As part of the mandate, BP2S will provide First Plus with global custody, hedge fund administration and investor services for its Asia Opportunity Fund and Asia Special Situation Fund under First Plus Global Opportunity Fund VCC, and its planned private equity fund.
First Plus, a Singapore based multi-asset investment group focused on emerging Asia, launched its asset management platform in Singapore in 2020. BP2S is a long-term adviser and partner to First Plus, and guided the investment group in establishing its first VCC fund.