Apex, the Bermuda-based administrator, has been appointed to provide fund administration services to Preservation Capital Partners, a UK-based mid-market private equity investor. Preservation Capital, a specialist investor in the asset-light financial services sector, recently announced the closing of its debut fund, Preservation Capital Partners Fund I, at its hard cap of GBP309m (USD400m).
Category: Headlines
Kiva appoints UMB to administer Refugee Investment Fund
Kiva, the California-based microfinance provider, has selected UMB Fund Services to provide fund accounting and administration services for the Kiva Refugee Investment Fund.
4Pines selects Harmonate for data operations services
4Pines Fund Services, a start-up private equity administrator based in the U.S., has selected Harmonate to provide data operations services. Harmonate claims its Conductor data operations product for fund administration can provide 20pct cost savings in year one of implementation, and 80 percent savings in ensuing years, as well as reducing reporting delivery timelines by…
Amy LeJune joins IQ-EQ’s corporate services team in UK
IQ-EQ, the Luxembourg-based provider of fund and corporate services, has strengthened its senior corporate services team in the UK with the appointment of Amy LeJune, who joins the firm’s corporate segment as a client services director. She joins IQ-EQ from Intertrust.
Citi adds Finland to direct custody & clearing network
Citi is to offer direct custody & clearing (DCC) services in Finland. This new offering expands Citi’s proprietary DCC network to cover the whole Nordic region, making Citi the only international bank to offer a pan-Nordic service. Citi will become a member of Euroclear Finland, the central securities depository, and will access the system through…
Fir Tree Partners selects Arcesium for MO & BO support
Fir Tree Partners, a private investment firm based in New York, has selected Arcesium‘s integrated technology platform and services solution to support its operational model. Arcesium’s platform will provide Fir Tree with a single repository to manage all of its middle and back office workflows, including reconciliation, portfolio analytics, data management, treasury, and cash functions.…
Northern Trust adds ESG reporting capabilities
Northern Trust had added new capabilities to its ESG risk exposure analytics to include new reporting for key environmental data categories. The enhancement enables Northern Trust’s clients to interrogate specific environmental risk indicators for their investments. It also delivers a new ESG Insights: Environment report, providing investors with access to environmental analytics using a range…
Vanguard consolidates MM funds on Charles River IMS
A major coup for Charles River Development, which is owned by State Street, where Vanguard has consolidated management of its taxable money market funds on the cloud-based Charles River Investment Management Solution. Vanguard is already live on the platform, using Charles River IMS across the investment process, from pre-trade to post-trade and compliance. Paul Malloy,…
Nottingham gets SEC green light for non-transparent ETF structure
The Nottingham Company, Inc., a U.S.-based fund services administrator and private label issuer to the mutual fund and ETF sectors, has gained SEC approval for the short form exemptive relief application for Blue Tractor’s Shielded Alpha ETF structure. This SEC action will enable Nottingham, its affiliate investment advisor OBP Capital and the Spinnaker ETF Series,…
Oak and PraxisIFM plan to merge
Oak Group and PraxisIFM, two administrators based in Guernsey, plan to merge. Heads of Terms, which enable both companies to start formal negotiations, have been agreed and signed. Established in 2018 through the consolidation of four businesses, Oak operates across six jurisdictions with approximately 200 employees worldwide. PIFM listed on TISE in 2017 and has…