HSBC has appointed Michael Madsen as global head of product for private assets for its securities services business. In this new role, Madsen will focus on development of the private assets product strategy and operating model. He will be based in Luxembourg, reporting to Tony McDonnell, global head of alternative investments, securities services, and Niccolo…
Category: Alts
Apex to administer new music rights fund for Barometer
Apex Group has been appointed by Barometer Capital Management Inc., an independently owned Canadian investment firm that manages > CAD1bn, to provide administration services to the Barometer Global Music Royalty Fund LP. Barometer Capital has partnered with the Kilometre Music Group Inc., a music rights management company, to launch the fund, a limited partnership with…
Crestbridge supports launch of energy RAIF for ETIC
Crestbridge, the C.I.-based administrator, has supported the launch of the Energy Transition Europe Fund by Energy Transition International Capital. The fund is a Luxembourg-domiciled RAIF. Crestbridge’s Luxembourg team provided and continues to provide a range of administrative services to the new fund, including accounting, reporting and compliance.
Apex submits superior bid for Mainstream
Mainstream Group, the ASX-listed administrator which has been the subject of takeover offers from both Vistra and SS&C, has received an unsolicited offer from Apex Group, and has advised SS&C that it has until May 6 to match the Apex bid or offer more favourable terms.
Aztec hires Ore Adegbotolu to head UK sales team
Aztec, the C.I.-based administrator, has hired Ore Adegbotolu as business development director, based in its London office. He assumes responsibility for the business development team in the UK, as well as leading the wider business development strategy for corporate services, private debt and real assets. He joins Aztec after more than a decade’s experience with…
Ultimus hires Frank Anduiza to head private fund sales
Ultimus Fund Solutions, an independent provider of fund administration, accounting, and investor solutions, has hired Frank Anduiza as head of private fund sales for Ultimus LeverPoint, the firm’s private fund administration services business. Anduiza joins from BNY Mellon, where he was head of U.S. business development for the alternative investment management sector.
Banque de France completes digital currency test
In partnership with the European Investment Bank and Société Générale – FORGE, Banque de France has completed an experiment on the use of a central bank digital currency (CBDC) for settling digital bonds issued by the EIB through blockchain. The experiment consisted of the subscription to EIB-issued digital bonds by investors, for a total amount…
Northern Trust to administer new USD9bn Coller Capital PE fund
Coller Capital, a UK-based investor in the private equity secondary market, has launched a USD9bn fund, Coller International Partners VIII. Investor support came from over 200 of the world’s leading institutional investors. Northern Trust, which has a 25-year relationship with Coller Capital, has been appointed to provide fund administration, banking and depositary services for the…
HWM acquires KOGER
HWM Group, a Dublin-based investor services and regulatory solutions provider to alternative and retail fund administrators, has acquired the assets of KOGER, Inc., a U.S.-based fintech. Lovell Minnick Partners, LLC, a private equity firm focused on investments in financial services, fintech and related business services, funded the KOGER asset acquisition and has taken a majority…
U.S. Bank launches services for SPACs
U.S. Bank has launched a range of services for sponsors of special purpose acquisition companies (SPACs), including: Establishing a special-purpose segregated trust account to hold SPAC proceeds; Holding, investing and disbursing of funds in accordance with a trust agreement; Providing statements and secure online reporting of account holdings and activity; Maintaining investment books and records;…