VanEck, the U.S.-based fund manager with USD76.4bn AuM, has named Gemini as BTC custodian for its recently approved bitcoin ETF under the ticker HODL, which is listed on the Cboe BZX Exchange. State Street is the custodian of cash, fund accountant, transfer agent, ETF basket servicer and order-taker.
Category: Alts
U.S. Bank wins multi-domicile mandate
U.S. Bank has been appointed by Monroe Capital LLC to provide custody, fund administration and depositary services for its new fund structure, Monroe Capital Private Credit Fund V, including Luxembourg, U.S. and Irish entities. Monroe Capital has a 20-year track record in direct lending/private credit.
SILC picks PAXUS
The SILC Group, a specialist Australia-based trustee and fund administration business focused on alternative investment assets, has selected the PAXUS fund administration system for its third-party fund administration business operations. PAXUS is a platform offered by Pacific Fund Systems, the Isle of Man-based fintech owned by Apex. SILC has opted for a full SaaS PAXUS-CLOUD…
SGSS to support Schroders’ ELTIF 2.0
Schroder Investment Management (Europe) S.A. has launched Schroders Capital – Private Equity ELTIF 2023, its first Luxembourg-domiciled ELTIF 2.0 private equity fund distributed in France and internationally. Schroders is one of the first asset managers to market an ELTIF 2.0 to French retail clients. SGSS has been selected by Schroders as centralising agent in France…
Crestbridge supports Kreos fund launch
Crestbridge, the UK-based administrator, has supported the launch and final close of Kreos Capital‘s latest flagship venture debt fund. Crestbridge provided a full suite of fund administration, governance and compliance services across its Jersey, UK and Luxembourg teams. With secured commitments of EUR1.25bn (USD1.4bn), Kreos provides debt solutions to high-growth companies primarily in the technology…
Alter Domus works with Temenos
Alter Domus, the Luxembourg-based provider of fund administration, private debt, and corporate services for the alternative investment industry, can now support the launch and ongoing administration of open-ended and closed-ended private market funds, including European Long-term Investment Funds (ELTIFs), with liquidity management services. The new capabilities will be supported in part by a partnership with…
FundBank appoints CEO for Europe
Steve David has been appointed CEO of FundBank (Europe), an independent provider of banking and fund services for the alternatives sector. David spent nearly 20 years with Northern Trust, most recently as CEO of its global services business in Europe. Northern Trust has yet to announce a replacement for David.
Apex to acquire in Lux
Edmond de Rothschild has entered into a definitive agreement to sell its Luxembourg-based third-party asset servicing activities to Apex Group. As part of this agreement, Apex will also acquire Edmond de Rothschild’s fund administration, transfer agency and custody activities for its private equity and infrastructure funds. The transaction is subject to customary conditions, including regulatory…
AGI appoints IQ-EQ in France
IQ-EQ, the Luxembourg-based administrator, has been appointed by Allianz Global Investors as the ManCo for its EUR256m (USD280m) debt fund, created to finance the French rail company SPL Grand Est Mobilités in the development of railway services across the Grand Est region. IQ-EQ is acting as third-party AIFM for the fonds commun de titrisation (FCT)…
Hazeltree hires for customer success
Hazeltree, the provider of treasury and liquidity management solutions for the alternative asset management industry, has appointed Steve King as the U.S. director of customer success. He will report to Ayman Sakr, chief customer success officer at Hazeltree. He was previously a principal at Gilded, a fintech, where he worked with Stephanie Miller, now Hazeltree…