Circle Internet Financial, LLC has appointed BNY Mellon as a primary custodian for USD Coin (USDC) reserves. Circle is an internet finance firm that provides internet-based payments and financial infrastructure and is the sole issuer of USDC. USDC is one of the fastest growing dollar digital currencies in the world, with over USD52bn in circulation…
Category: Mandates
CIBC Mellon wins Forstrong mandate
Forstrong Global, the Canada-based asset manager, has appointed CIBC Mellon to provide asset servicing and digital solutions, including custody, accounting, recordkeeping, securities lending, financial statement preparation, investment data access and tax reporting. Established in 2001, Forstrong runs actively managed ETFs to capitalise on macroeconomic, geopolitical and other world trends for some of Canada’s largest financial…
Notion Capital expands Mainspring mandate
Mainspring, the UK-based administrator, has been awarded an additional mandate by Notion Capital, the VC firm focused on European SaaS and cloud investments. Mainspring will provide custody services for Notion’s Fund III, including sub-custody services for the fund’s depositary. Mainspring has been working with Notion for five years.
CSC and Carne Group win new ILP mandate
CSC Global Financial Markets has been appointed as depositary for Sarona Global Growth Markets PE Fund 3 ILP, one of the first ILPs launched in Ireland. CSC will support Sarona Asset Management, a Canada-based private equity investor, together with Carne Group as AIFM.
OurCrowd appoints Apex for new VC fund
Apex has been appointed by OurCrowd, a global venture capital investment platform, to provide fund services. Formed in 2013, OurCrowd is Israel’s most active venture capital firm, having deployed over USD1.8bn in committed capital to date. Apex will provide fund administration, transfer agency and custody services to OC50, a recently launched global VC fund.
Equity Trustees appointed as RE for three Sharia funds
Equity Trustees has been appointed responsible entity (trustee) for three Sharia-compliant funds spanning equity, property, and fixed income asset classes, launched by Australia-based investment manager, Hejaz Asset Management.
Carne wins USD32.5bn ManCo mandate
Russell Investments has appointed Carne Group as third-party management company for 11 Russell umbrella funds, covering USD32.5bn AuM across 76 active sub-funds, said to be the world’s largest ManCo outsourcing deal to date, as measured by AuM. The funds are domiciled in Ireland and distributed globally. Russell Investments is a U.S.-based provider of investment solutions…
Metrics appoints Equity Trustees for new fund
Equity Trustees, the Australia-based provider of administration services, has been appointed responsible entity (trustee) and custodian for the Metrics Direct Income Fund, managed by Metrics Credit Partners, an Australian non-bank corporate lender and alternative asset manager specialising in origination and active management of private debt portfolios. The fund seeks to provide monthly cash income, capital…
Perennial appoints Apex for new fund
Apex has been appointed by Perennial Partners to provide fund administration services to Perennial Private Ventures Fund. The fund is aiming to raise AUD200m (USD145m) to invest in high growth private businesses. The launch of the fund follows the success of Perennial’s three existing private to public fund strategies – also administered by Apex –…
IQ-EQ to support African impact firm
IQ-EQ, the Luxembourg-based administrator, has been appointed to provide fund administration services to EG Capital, an East African impact investment firm headquartered in Mauritius with offices in Kenya, Uganda and Zambia.