HSBC has launched a new technology platform to provide private asset administration services to asset owners and managers. The new platform, powered by SEI, offers private asset investors digital workflow and reporting solutions, allowing them to oversee (via a consolidated data stack) all aspects of their operating model – from fund accounting to investor reporting.…
Category: Alts
Avanti rebrands as Custodia
Avanti Financial Group, Inc. has rebranded as Custodia Bank, Inc., as a precursor to the launch of its digital asset bank. Custodia Bank plans to launch in Q2 with U.S. Dollar deposit accounts for business customers, initially providing ACH and Fedwire services. The post-launch roadmap includes digital asset custody, Avit (a payment instrument similar to…
Northern Trust supports 5CP’s USD144m fund launch
Northern Trust has been appointed by 5th Century Partners (5CP), a purpose-driven private investment firm based in Chicago, to provide fund administration and related services. The relationship includes banking, investor services and support for the launch of 5CP’s oversubscribed debut fund, which closed to investors earlier this year with USD144m in capital commitments. Northern Trust…
Two senior appointments at IQ-EQ
Two senior appointments at IQ-EQ, the Luxembourg-based administrator: Greg Kok has been named as the new MD of IQ-EQ Guernsey. Prior to joining IQ-EQ, Kok was group head of the ManCo at JTC. Sophie Hubert has been named as the new chief commercial officer for IQ-EQ France. She joins from Amundi.
Bitpanda acquires Trustology
Bitpanda, the Swiss-based crypto asset services provider, has acquired Trustology, the UK-based provider of trust and custody services for digital assets. Bitpanda will rebrand as Bitpanda Custody as a result of the deal. Bitpanda’s digital asset exchange now commits to offset custody fees, bringing them down to zero for users on Bitpanda. The deal also…
LemonEdge partners with Freyda
LemonEdge, a platform provider for managing private markets fund and portfolio accounting, has formed a partnership with Freyda, an AI and deep learning platform focused on building technology solutions to digitise private markets globally. The connection between LemonEdge and Freyda enables institutional investors and fund administrators to automatically pull structured data directly into the underlying…
BNY Mellon sells HedgeMark
Innocap Investment Management has entered into a definitive agreement to acquire BNY Mellon’s HedgeMark business. BNY Mellon will own a minority equity stake in Innocap’s combined platform, which focuses on helping institutional allocators access their investments through managed account services. BNY Mellon has wholly owned HedgeMark since 2014.
IQ-EQ hires State Street PE veteran
IQ-EQ has appointed Ray Murphy as senior managing director of accounting & CFO services in North America. In this newly created role, Murphy will drive IQ-EQ’s efforts to grow its outsourced CFO business in the U.S., with a particular focus on private equity clients. He joins from State Street. IQ-EQ first entered the U.S. alternative…
Adit hires Apex for new ILP
Apex has been appointed to provide fund administration services to Adit Ventures’ new Irish-domiciled Investment Limited Partnership fund. Services include fund accounting, investor services and audit assistance. Adit recently appointed two JTC-owned firms to provide AIFM and depositary services to the fund.
New ILP appoints JTC for AIFM and depositary services
Ballybunion Capital Limited and INDOS Financial (Ireland) Depositary Limited, two firms acquired by JTC in 2021, have been appointed to provide AIFM and depositary services respectively to Adit Global Growth, ILP. The fund, which will be distributed across a number of European countries and the UK, is expected to raise up to USD50m.