PEF Services, a U.S.-based administrator for alternative investment funds, has been selected to provide SBIC (small business investment company) fund administration services to Star Mountain Capital, LLC. With nearly USD2bn AuM, Star Mountain is a 100pct employee-owned investment firm focused exclusively on the U.S. lower middle-market by investing debt and equity directly into established operating…
Category: Mandates
Diversified Trust appoints SS&C for PE admin
Diversified Trust, a U.S.-based wealth management firm with USD7.5bn AuM, has selected SS&C as fund administrator for its private equity fund of funds platform. SS&C will provide private equity administration, portfolio look-through reporting, tax services, treasury support services and investor AML/KYC compliance. Diversified Trust also uses SS&C Black Diamond within its wealth management business and…
Northern Trust wins USD26bn UK Coal mandate
Northern Trust has been appointed to provide a range of asset servicing solutions to the UK’s Coal Pension Trustees Services Limited (CPT). CPT is the in-house executive company owned by the British Coal Staff Superannuation Scheme and the Mineworkers’ Pension Scheme – two closed defined benefit schemes representing members who previously worked in the UK…
State Street to service dual access ETF for AllianceBernstein in Australia
State Street has been appointed as servicing agent for an AllianceBernstein ETF in Australia that now offers the dual access option. Originally developed seven years ago, AB’s Managed Volatility Equities Fund was listed on the Chi-X exchange in April, leveraging the innovative dual access model, which enables active managers to run a single register for…
Apex to administer new energy fund for Federation Asset Management
Apex Group has expanded its relationship with Federation Asset Management to administer the Sustainable Australian Real Asset Trust (SARA), an energy transition investment fund. Apex will provide fund administration, share registry and regulatory services. SARA will invest in renewable energy projects and developments, energy storage systems and other sustainable infrastructure projects and developments across Australia…
PNC appoints SS&C for accounting and operations
Producer’s National Corporation, a U.S.-based insurance holding company, has selected SS&C to manage accounting and operations across its alternative and fixed income investment portfolios. The mandate covers PNC’s three insurance companies: Unique Insurance Company, Viva Seguros Insurance Company, and Stonegate Insurance Company.
Lemanik takes over as ManCo for ICBC SICAV
Lemanik Asset Management, the Luxembourg-based ManCo and AIFM, has been appointed as ManCo for the ICBC (Europe) UCITS SICAV. The fund has currently two sub-funds: the China Opportunity Bond Fund and the ICBC Schroders Belt and Road Bond Funds, with ICBC Asset Management (Global) Company Limited (Asia) as investment manager and Schroder Investment Management (Hong…
Credit Value Partners launches ILP
Credit Value Partners LLC, a U.S.-based private capital firm, has launched one of the first funds to be set up using the new Irish Investment Limited Partnership regime. Carne Group has been appointed as ManCo, with U.S. Bank appointed as administrator and depositary.
Evenlode appoints Equity Trustees as ManCo for new ICAV
Evenlode Investment Management, a UK based investment manager, has launched a second global equity fund in Ireland, the Evenlode Global Opportunities Fund. Equity Trustees, the Australia-based administrator, has been appointed as UCITS ManCo to the Evenlode ICAV.
CC&L appoints HSBC to administer new Irish ICAV
HSBC has been appointed by Connor, Clark & Lunn Financial Group Ltd, one of Canada’s largest independent asset management firms, to provide fund administration, transfer agency, custody and depositary services to its first Ireland-registered UCITS umbrella fund. The initial sub-funds include the CC&L Q Emerging Markets Equity UCITS Fund and the CC&L Q Global Equity…