State Street has been appointed by abrdn, the UK-based asset manager with GBP500bn (USD643bn) AuM, to service its first actively managed ETF in Europe, the abrdn Global Real Estate Active Thematics UCITS ETF. State Street will provide abrdn with custody, fund accounting, order-taking, transfer agency and ETF servicing.
Category: Mandates
NatWest wins depositary mandate
NatWest Trustee and Depositary Services has been selected as Tenzing’s depositary provider to support the firm’s regulatory oversight requirements. Headquartered in London, Tenzing is a private equity firm investing in a diversified portfolio of tech and tech enabled businesses.
Ardian appoints CACEIS for new fund
Ardian, the France-based private equity manager, and Eight Advisory, a specialist financial advisory firm, have appointed CACEIS to provide custodian and registrar services for the Booster Fund, launched in March this year. With an initial size of EUR1m (USD680K), the Booster Fund supports female entrepreneurs aged over 45.
Sidra expands Apex relationship
Sidra Capital has expanded its relationship with Apex, which will now provide fund administration, directorship and corporate secretarial solutions. Saudi-based Sidra Capital is a Shari’ah compliant asset manager, licensed by the Saudi Capital Market Authority, that focuses on income generating real estate and private finance strategies. Sidra has partnered with Apex as its preferred service…
State Street wins in Chile
State Street has been appointed to provide custody and fund order services for Confuturo, a Chile-based insurance company that is one of the largest providers of annuities in the country. In 2022 State Street opened an office in Chile.
ALC taps Equity Trustees for new fund range
AL Capital, the Australia-based investment and fund management arm of Aqualand Group with c. AUD300m (USD205m) AuM, has selected Equity Trustees to be the responsible entity (trustee) of its new range of retail funds, the ALC Global Credit Fund, ALC Active Australian Equity Fund and ALC Active Global Equity Fund.
Alger moves to BNY Mellon
Fred Alger Management, LLC, a privately-owned USD22bn growth equity investment manager, has appointed BNY Mellon to provide global fund services, as well as portfolio accounting, performance measurement and data management solutions. Alger expects to complete this transition by early 2024. Two of the outgoing providers are thought to be BBH as custodian, and UMB as…
Apex wins in South Africa
Apex has been appointed by PAPE Fund Managers (Pty) Ltd (PFM), a division of PAPE Group (Pty) Ltd, a South Africa-based private equity fund manager, to provide fund administration services. PFM acts on behalf of the PAPE Fund 3 Limited Liability Partnership comprised of nine investor groups. Apex will provide fund administration services to Fund…
Citi wins NHI&S mandate
Citi has been selected by NH Investment & Securities Co., Ltd. (NHI&S) as its global custody provider as NHI&S expands its business model to include trustee services for private investment funds in South Korea. Founded in 1969, NHI&S is one of South Korea’s largest securities firms. Citi currently provides NHI&S with FX services as well…
Inarcassa hires SGSS
Société Générale Securities Services in Italy has been selected as provider of custody and trustee services by Inarcassa, Italy’s national social assistance fund for self-employed engineers and architects, for a five-year term. Inarcassa has EUR13bn (USD14bn) AuM.