Ultimus Fund Solutions, a U.S.-based provider of fund administration, accounting, and investor solutions, has been selected by U.S.-based ERShares to provide administration services for three mutual funds and two ETFs. Ultimus is providing fund administration, fund accounting, distribution and transfer agency services for the mutual funds and ETFs, which transitioned to Ultimus in Q4 2020…
Year: 2021
Wyoming Deposit & Transfer licensed to provide digital custody
Wyoming Deposit & Transfer Corporation has been granted a new bank charter by the Wyoming Division of Banking under the regulatory framework of a Special Purpose Depository Institution. The charter will enable WDT to provide commercial banking, together with custodial services, for a wide range of tokenized assets and digital and fiat currencies, meeting the…
True Potential appoints HSBC as administrator
HSBC has been appointed as third-party administrator by True Potential LLP for all of the 34 UK-authorised funds offered on the firm’s in-house platform, which has GBP17bn AuM. The new mandate will see HSBC provide depositary, global custody, fund accounting and transfer agency services to these funds.
State Street to deploy Canoe’s ML technology for private markets
State Street plans to implement a cloud-based, machine learning technology to transform private markets processing and document management. Through State Street’s partnership with Canoe Intelligence, allocators and managers in the private markets sector will have an integrated experience where traditionally onerous and manual alternative investment workflows will be automated and streamlined, reducing processing time and…
Apex acquires Senasen
Apex has acquired Senasen Group Ltd., a digital marketing platform provider designed to connect LPs and GPs and support the capital raising process. Founded by Blair McPherson and created by Ben Slater, both of whom will join Apex as part of the deal, Senasen’s proprietary SaaS platform will benefit clients through delivering a self-service offering…
Ross Thomson joins Crestbridge as head of Lux fund services
Crestbridge, the C.I.-based provider of private equity and real estate administration services, has appointed Ross Thomson as head of funds services in Luxembourg. Prior to joining Crestbridge, he was COO for Carne Global Fund Managers Luxembourg, where he was responsible for the ManCo and AIFM operations.
Ultimus LeverPoint adds Patrick Mulkern to sales team
Ultimus LeverPoint Private Fund Solutions, the private equity administration business of Ultimus Fund Solutions, has appointed Patrick Mulkern as an SVP in the sales team. He joins from Mainstream. Ultimus LeverPoint, which was formed after Ultimus bought LeverPoint in 2019, provides accounting and fund administration solutions to >200 firms with approximately USD110bn AuA.
Alter Domus to acquire IEA
Alter Domus, the Luxembourg-based provider of fund administration, debt capital markets and corporate services, continues its U.S. expansion with the acquisition of Investors Economic Assurance. This will add 22 specialists in alternative investment asset servicing and fund administration and more than USD54bn AuA. This is the third acquisition in North America for Alter Domus in…
Northern Trust to support Fundsmith’s SICAV
Northern Trust has been appointed to provide fund accounting, transfer agency and global custody services to Fundsmith’s Luxembourg-domiciled umbrella, Fundsmith SICAV. Fundsmith SICAV was launched in 2011 and currently has EUR6.4bn (USD7.6bn) AuM. At launch, State Street/IFDS were appointed to provide fund administration, custody and TA to the fund. Headquartered in the UK, Fundsmith has…
EFA & ODDO BHF support receivables FCT fund
EFA, ODDO BHF, Smart Lenders AM and Pledg have launched the SLAM Cash Advance FCT fund. EFA and ODDO BHF have been selected by Smart Lenders AM to organise the launch of SLAM Cash Advance FCT (Fonds Commun de Titrisation). This fund aims at acquiring and financing receivables sold by Pledg, a French fintech in…