Apex Group has been appointed by Sadu Capital to provide fund administration and AML solutions. Sadu Capital is a Saudi-based venture capital firm that invests in private technology startups. Sadu’s latest Cayman-domiciled fund focuses on investing in early-stage start-ups based in the Middle East & North Africa region.
Category: Alts
Hazeltree adds to C-suite
Hazeltree, the U.S.-based provider of treasury and liquidity management solutions for the alternative asset management industry, has appointed Vlad Berson as chief marketing officer. He will report to Hazeltree CEO Tushar Amin and will be based in New York. Berson joins from Broadridge, where he was most recently global head of marketing for capital markets.
Equity Trust buys Midland Trust
Equity Trust Company, a U.S.-based custodian of self-directed IRAs, has acquired Midland Trust, a self-directed IRA company based in Fort Myers, FL. Equity Trust services individuals seeking to self-direct their retirement investments, offering access to investment options such as real estate, private equity, and precious metals.
TMF to acquire FIDD in Brazil
TMF Group, a Netherlands-based provider of administrative services, has entered into an agreement to acquire FIDD Group, a full-service outsourced fund administration provider based in Brazil. The transaction is subject to regulatory approval by Banco Central, with completion expected in 2024. Following the acquisition, TMF Group would administer more than EUR200bn of client assets. FIDD…
IQ-EQ wins USD10bn PA mandate
IQ-EQ, the Luxembourg-based administrator, has been appointed by Flexstone Partners to provide fund administration and a suite of related services. As part of this mandate, IQ-EQ has lifted out Flexstone’s key servicing team from its legacy provider, MB Fund Administration. Flexstone Partners, an affiliate of Natixis Investment Partners, is a private investments firm with >USD10.1bn…
Formidium opens in GIFT City
Formidium, a U.S.-based provider of fund technology and back-office solutions, has opened a workspace at Gujarat International Finance Tech-City (GIFT City) in Ahmedabad, India.
MSCI to own Burgiss outright
MSCI Inc., a provider of decision support tools and services for the investment sector, has entered into a definitive agreement to acquire the remaining 66pct of The Burgiss Group, LLC for USD697m in cash. Burgiss is a U.S.-based provider of data, analytics, and technology solutions for investors in private assets. Since its initial investment in…
ISPT switches to Sylvan
ISPT, a property fund manager based in Australia, has implemented SS&C Sylvan for performance measurement and attribution. ISPT is one of Australia’s largest unlisted property fund managers with >AUD22bn (USD14.4bn) AuM from investments in commercial, retail, industrial, education, health, social infrastructure and residential development. SS&C Sylvan, a cloud-based performance measurement and attribution solution, replaced ISPT’s…
Hamilton Lane invests in IDR
Hamilton Lane, a private markets investment management firm, has made an investment in IDR, the investor onboarding platform focused on private markets. Additionally, Hamilton Lane will deploy IDR’s platform for its investor onboarding process, including fund subscription, KYC, tax, and money laundering reporting officer services. The investment amount was not disclosed.
Blackwattle appoints Apex
Blackwattle Investment Partners, a recently launched Australian fund manager, has appointed Apex to provide fund administration, TA, middle office and custody solutions for its first four funds: ASX Small Cap Quality, Mid Cap Quality, Long-Short 130/30 Quality, and Large Cap Quality Funds. This follows Blackwattle’s appointment of Equity Trustees as responsible entity (trustee) for the…