JTC, the C.I.-based funds and corporate services provider, has agreed to acquire NES Financial, a U.S.-based provider of specialist fund administration services. Founded in 2005, NESF has 58 employees, all of whom will join JTC, delivering services from Boston, Massachusetts, where its fund administration operation is based, and San Jose, California, which is the company’s…
Category: Independents
Intertrust to provide depositary services for Altor PE funds
Altor Fund Manager, a Sweden-based manager of private equity funds, has appointed Intertrust to provide depositary services to Altor Fund IV and Altor Fund V, which are domiciled in Sweden Altor Fund IV closed in 2014 with a committed capital of EUR2bn and Altor Fund V closed in 2019 with a committed capital of EUR…
Vistra hires four PE specialists from TMF
Vistra, the independent fund administration, trust and corporate services provider, has hired a team of four private equity specialists from TMF Group. All are based in the U.S. Anastasia (Kim) Williams, commercial sales director, recently led the private equity practice in North America at the TMF Group. Prior to that, she was a senior member…
UMB FS hires Mike Huisman to head TA
UMB Fund Services has hired Mike Huisman as senior vice president, director of transfer agency. He joins from Envision Financial Systems, where he was the head of alternative product solutions. Scott Schulenburg, who has run transfer agency since 2015, is moving into a client relationship management role.
EFA to administer REINO RF CEE RE fund
EFA, the Luxembourg-based administrator, has been appointed to provide administration services to the REINO RF CEE Real Estate Fund, a RAIF formed as part of a strategic collaboration between Poland-based REINO Capital and Australian firm RF CorVal. The fund, targeting the Polish real estate market, will have EUR750m of assets under administration and will be…
Sudrania FS receives further funding from Bodhi Tree AM
Sudrania Fund Services Corp, a Chicago-based fund administration and technology company, has received another round of strategic seed investment from Bodhi Tree Asset Management. This investment is a follow up from an initial investment made by Bodhi Tree in 2018. Shalin Madan, the CIO of Bodhi Tree, will join Sudrania’s advisory board. Sudrania currently has…
Apex appoints co-heads for PERE business
Apex, the Bermuda-based administrator, has appointed co-heads for its private equity and real estate business, which administers c. USD300bn. Elaine Chim is appointed head of private equity and real estate for the Americas, and Gareth Smith is head of private equity and real estate for the EMEA and APAC regions. Chim joined Apex in 2018…
FundRock launches AIFM in France
FundRock, the Luxembourg-based ManCo and administrator, is to launch a new AIFM in France to service private equity and real estate investors. Jean Edouard Mazery has joined from Twenty First Capital, a European asset manager, to lead the French business. He will be initially based in Luxembourg and will relocate to Paris once regulatory approval…
Saluda Grade appoints Socium as administrator for income fund
Socium Fund Services, a U.S.-based administrator focused on private equity, venture capital, real estate, and private debt funds, has been appointed by Saluda Grade, a New York-based advisory firm in the private and alternative lending sector, as fund administrator for the Saluda Grade Income Fund LLC.
Link launches UCITS platform in Lux
Link Group has launched a UCITS platform domiciled in Luxembourg. The platform –Elevation Fund SICAV –should enable investment managers to launch sub-funds in a faster and more cost-effective way. Last year, Link Group launched a similar platform in Ireland. The new umbrella fund will operate its first sub-fund for Stewart Asset Management, LLC, based in…