IQ-EQ, the Luxembourg-based provider of corporate and fund services, has supported the spin-out of Claret Capital Partners from Harbert Management Corporation, a U.S.-based manager focused on alternative assets, with approximately USD7.4bn AuM. This transaction sees Claret assume full ownership and control of the general partners of Harbert European Growth Capital debt funds, with >EUR400m (USD470m)…
Category: Mandates
Pershing Square appoints Northern Trust for multi-domicile admin mandate
Northern Trust has been appointed to provide fund administration services for Pershing Square Capital Management, a New York-based manager with USD9.4bn AuM. Northern Trust will support Pershing Square’s funds domiciled in Guernsey, Cayman and Delaware
State Street to service Ping An’s new global PE funds
State Street has been appointed by Ping An Overseas Holdings to provide servicing solutions for its two newly launched private equity funds. This expands State Street’s current relationship with PAOH as the custodian and fund administrator of the Ping An Global Infrastructure Funds. Under the new mandate, State Street will provide custody and fund administration…
Northern Trust to administer new water-focused fund for Emerald
Northern Trust has been selected by Emerald Technology Ventures AG to provide fund administration, global custody and banking services for its sixth new fund launch – the Guernsey-domiciled Emerald Global Water Impact Fund LP. The USD100m fund is making investments in early and expansion stage companies in the water technology sector with the aim of…
NES to provide admin services to Proactive Realty Income Fund
NES Financial, a Silicon Valley-based administrator, has been contracted to provide private equity administration services to Proactive Realty Income Fund, LLC, a Chicago-based, African-American led private equity impact fund that specialises in real estate asset acquisition, renovation, stabilisation, and active management.
HSBC upgrades insurance administration services in Asia
HSBC has launched an upgraded fund administration solution for Asia-based insurance companies, after onboarding HSBC Life, its Hong Kong insurance business. HSBC now provides accounting, valuation and other administration services to HSBC Life, with over USD56bn of assets under administration onboarded, and more scheduled across Hong Kong and Singapore.
National Western Life to implement SS&C’s Precision LM software
National Western Life Insurance Company, a Texas-based life insurer, will implement SS&C‘s cloud-based Precision LM software to provide servicing and accounting support for its growing portfolio of commercial mortgages.
HSBC facilitates new sec lending transactions in mainland China
HSBC has facilitated securities lending transactions conducted by China Asset Management (Hong Kong) Limited in mainland China. The two transactions, executed on the Shanghai Stock Exchange and Shenzhen Stock Exchange, are among the first batch of securities lending transactions via the Qualified Foreign Institutional Investors (QFII) scheme. HSBC is the custodian, providing services including investment…
Sweden’s Keel Capital appoints Apex as administrator for Lux funds
Apex has been appointed to provide fund administration services to Stockholm-based Keel Capital AB. Keel Capital is regulated in Sweden as an AIFM, and its funds (Alternative Investment Fund Keel Capital S.A – SICAV-SIF Foghorn Fund, Foghorn X2 and Longhorn Fund) are all registered and domiciled in Luxembourg.
FundRock appointed as ManCo for Primus Solutions ICAV
FundRock, the Luxembourg-based financial services company that is the subject of a takeover by Apex, has been appointed as the management company of the newly launched Primus Solutions ICAV, which is distributed by Deutsche Bank. FundRock will provide the legal and regulatory framework for the ICAV and undertake oversight of the sub-fund.