SS&C has signed an outsourced administration arrangement with USAA Real Estate, which acquires, develops, finances and manages real estate assets in North America and Europe. USAA Real Estate will outsource fund accounting and reporting functions, as well as property accounting of operating and under-development investments, to SS&C. USAA Real Estate will also transfer around 60…
Category: Independents
HIGHVERN hires CTO from Saltgate
HIGHVERN, the C.I.-based administration services provider, has appointed Tim McBain as group head of technology. Most recently he held a similar position at Saltgate.
Apex to acquire PFS
Apex is to acquire Pacific Fund Systems (PFS), the Isle of Man-based fund administration software provider, from its co-founders and Pollen Street Capital. The acquisition follows Apex’s longstanding partnership with PFS through the use of PFS-PAXUS and will expand use of the technology platform to enhance the delivery of timely, accurate and independent portfolio accounting,…
Formidium launches SPV tax service
Formidium, the U.S.-based third-party provider of fund administration and back-office technology solutions, has launched SPV Tax, a U.S. tax returns preparation and e-filing professional service suite for SPVs, which are often used to isolate and segregate investment assets. SPV Tax provides a unified, and end-to-end platform for U.S. federal and state tax return preparations and…
Gen II makes senior Lux appointments
Gen II Fund Services, an independent U.S.-based private capital fund administrator with USD900bn AuA, has appointed Christophe Ponticello as Luxembourg country head, and Duncan Christie as COO. Both are internal promotions.
HIGHVERN receives CBI approval for alts admin
HIGHVERN, the C.I.-based administrator, has received authorisation from the Central Bank of Ireland to provide fund administration services to alternative funds. HIGHVERN launched its Irish business, with offices in Dublin, in January 2022. The firm recently appointed Colm Clifford as an Irish Independent Non-Executive Director, joining the board as an INED and chair, Clifford is…
Apex completes Maitland deal
Apex has completed its acquisition of the fund services and third-party ManCo business operations of Maitland International Holdings plc, the South Africa-based fund services provider. Maitland provides services for 120 direct investment managers and 25 fund sponsors, with >USD200bn AuA and USD17bn AuM. Maitland’s 570 employees will join the group, expanding Apex’s existing presence in…
Formidium launches crypto tax service
Formidium, the U.S.- based administrator (formerly Sudrania), has launched Crypto Fund Tax, a suite of tax services, including tax allocations, reporting, and filings for funds invested in digital assets. Crypto Fund Tax is aimed at managers and funds that invest in cryptocurrency, DeFi, blockchain, mining, staking, NFTs, tokens, private equity, venture investments, and real estate…
HIGHVERN appoints INED for Ireland
HIGHVERN, the C.I.-based administrator, has appointed Colm Clifford as an Irish Independent Non-Executive Director. He will join the board as an INED and chair, alongside Ireland country head, Philip Dempsey, and fellow directors Emma Keane and Adrian Bailie. Clifford is a former KPMG audit partner, holding various senior leadership roles specialising in financial services.
Crestbridge appoints UK head of corporate services
Crestbridge, the C.I.-based alternatives fund services provider, has appointed Anthony Lee as UK head of corporate services. He joins from Apex, where he was head of listed funds, UK.