NES Financial, the Silicon Valley-based specialist administrator, has added a new, purpose-built fund administration service to its current lineup of EB-5, 1031 exchange, private equity and opportunity zone offerings. The 1031 Delaware Statutory Trust (DST) administration solution uses NES Financial’s eSTAC administration technology to provide security, transparency, and compliance to DST managers and their clients.
Category: Independents
NES to service InvestNewMexico’s OZ fund
NES Financial has been appointed to provide OZ fund administration services to InvestNewMexico.us (INM), a New Mexico–based partnership focused on affordable and sustainable housing, agriculture, film, technology transfer and emerging media industries. This follows NES’s recent announcement that it is now servicing 50 OZ funds.
Ocorian hires Maurice Okolo to lead west Africa bus dev
Ocorian, the C.I.-based administrator, has appointed Maurice Okolo as a business development director, operating from Lagos, Nigeria. He will lead business development across west Africa. He joins from Elixir Asset Management.
Ocorian authorised to act as AIF depositary in Lux
Ocorian, the C.I.-based administrator, has received authorisation to act as a depositary to alternative investment funds in Luxembourg. Ocorian already offers depositary services in UK and Jersey.
CSC to acquire TCS-Groep in the Netherlands
CSC, a U.S.-based provider of corporate services, has signed a definitive agreement to acquire TCS-Groep, a Netherlands-based administrator for alternative investment funds. TCS, which has 26 staff, offers fund administration and depositary services for alternative asset managers with a focus on real estate, private equity, private debt, and social impact funds, with AuA of EUR6.5bn…
Citco takes stake, expands relationship with Solovis
Citco has expanded its partnership with Solovis, the multi-asset class portfolio management, analytics and reporting platform for asset owners and allocators. The partnership with Solovis covers business, technology and services and includes an equity investment in Solovis. Citco says this will enhance the performance reporting and analytics services provided by its recently launched institutional services…
Daiwa AM hires Lemanik as ManCo for Lux UCITS funds
Lemanik Asset Management, a third-party management company, has been appointed by Daiwa Asset Management to provide ManCo services for a newly launched range of Luxembourg UCITS funds. RBC was recently appointed as custodian and administrator for the funds.
IQ-EQ hires in Cayman, Japan
Two appointments at IQ-EQ, the Luxembourg-based administrator. Hiroki Allen joins the Tokyo office as director, funds for Japan. He was previously at Bloomberg and has also worked at BNY Mellon. Tedrick Green has joined the Cayman Islands business as client director. He was previously at Walkers.
SANNE appoints country heads for Hong Kong & UK
SANNE, the C.I.-based provider of alternative asset and corporate services, has appointed Wendy Cheng as country head for Hong Kong and Chris Warnes as country head for the UK. Both are internal appointments.
Paloma Partners hires SS&C GlobeOp for fund services
Paloma Partners, a U.S.-based hedge fund manager, has appointed SS&C GlobeOp for fund accounting, administration and regulatory services, using SS&C Geneva as the general ledger accounting platform. Paloma manages approximately USD4.8bn.