BNP Paribas has structured, tokenised and distributed a bond, the proceeds of which aim at refinancing a solar energy project sponsored by EDF through its subsidiary, EDF ENR. This native digital asset, issued on the public blockchain, represents the first renewable energy bond tokenisation in the project financing market. For this transaction, the BNP Paribas…
Category: Alts
SDX partners with F10 & Aequitec to tokenise equities
Switzerland’s SIX Digital Exchange (SDX), the digital asset exchange and central securities depository (CSD), in partnership with F10, a fintech, and Aequitec, a digital share register and cap table company, have completed the first tokenisation of equity shares in a fully regulated CSD based on distributed ledger technology. F10 will issue its shares with the…
Coremont hires COO from State Street
Akbar Sheriff has joined Coremont, the UK-based fintech, as COO. Coremont, which was spun off from Brevan Howard in 2018, provides portfolio management technology and support across all investment management and trading functions. Its flagship software, Clarion, provides risk analytics and data across all asset classes, including rates, fixed income, credit, FX, equities, commodities and,…
HSBC wins GBP50bn Aviva RE mandate
HSBC and Mount Street Group have entered into a 10-year strategic agreement with Aviva Investors for asset servicing arrangements for its real assets business, covering GBP50bn (USD60bn) AuM. The mandate will see HSBC and Mount Street assume all fund administration and debt servicing functions on behalf of Aviva Investors’ real assets strategies. The mandate follows…
Inversis to acquire stake in Adepa
Inversis, a 100ct subsidiary of Spain’s Banca March specialising in global solutions for financial asset distribution, has agreed to acquire 40pct of Adepa, a Luxembourg-based group providing management and administration services for investment vehicles (UCITS and alternative funds, including real estate and venture capital), which has operations in Luxembourg, Spain, Italy and Chile. The agreement…
Northern Trust wins Kuwait mandate
Northern Trust has been appointed by Arab Fund for Economic and Social Development (AFESD) to provide a range of asset servicing solutions covering global custody, financial reporting, securities finance, private equity administration, performance measurement and compliance monitoring. AFESD, based in Kuwait, is a regional financial institution focused on funding economic and social development by financing…
Ocorian granted three new licences in Ireland
Ocorian, the C.I.-based administrator, has been granted three new licences by the Central Bank of Ireland. The firm, which has offered corporate and capital market services in Ireland for 15 years, now has licences covering AIFM, fund administration and real asset depositary services.
Sudrania rebrands
Sudrania Fund Services, the U.S.-based administrator, has rebranded as Formidium.
Intertrust hires head of AIFM in Lux
Johannes Höring has joined Intertrust, the Netherlands-based administrator, as head of AIFM in Luxembourg He has worked in Luxembourg, Germany, UK and Ireland in various senior positions, including conducting officer, managing director and manager of fund management companies and authorised AIFMs.
Apex to acquire Darwin
Apex plans to acquire Darwin Depositary Services, a Netherlands-based provider of depositary services for alternative investment funds. Darwin will add EUR4.5bn (USD4.7bn) of assets, expanding the geographic scope of Apex’s independent depositary services, currently delivered through subsidiary European Depositary Bank in Luxembourg, Ireland, UK and Malta. Darwin’s management team will join Apex following completion of…