Waystone, the European provider of specialist services to the global asset management industry, has been appointed by Alger, a U.S.-based growth equity asset manager, to provide third-party ManCo and supplementary services across the EEA. The mandate will add USD600m to Waystone’s AuM. Additional services include risk and compliance reporting, distribution support, market access, global registrations, and facilities agency, along with a number of supplementary products which will bring all services under one umbrella for all Alger funds domiciled in Luxembourg. In 2023 Alger appointed BNY Mellon to provide global fund services, as well as portfolio accounting, performance measurement and data management solutions.
