Northern Trust is celebrating 20 years since it established a presence in Ireland through its acquisition of Ulster Bank Investment Services. Northern Trust is the third largest provider of fund administration and custody services in Ireland, according to Monterey, employing more than 1,600 people in its offices in Dublin and Limerick. In 2011 Northern Trust…
Category: Offshore
Oak and PraxisIFM end merger talks
Oak Group and PraxisIFM Group, two Guernsey-based administrators, have called off their proposed merger, first announced in August 2020. In a statement, Oak said: “With a particularly unpredictable global economic backdrop, a number of hurdles have led to the cessation of discussions”.
Apex mandated to service new Lux fund for Frontera
Apex has been mandated to provide fund services to Frontera Capital Group Limited, a UAE-based fixed income investment firm. Apex will provide Frontera with AIFM, administration, custody and corporate services. Frontera is currently raising USD400m for a new Luxembourg fund, with final close expected towards the end of Q1 2021.
DMS acquires Azienda in Luxembourg
The DMS Group, a specialist fund corporate governance provider, has acquired Azienda Financial Services, a corporate services provider based in Luxembourg. Azienda specialises in administering investment structures for private equity, real estate and structured finance. Earlier this year, DMS struck an agreement with Luxembourg-based MDO, and Ireland-based MontLake, to form a broad fund governance and…
Reitway selects Prescient as Maltese funds administrator
Reitway Global (Pty) Ltd, the South Africa-based real estate investment manager and advisor, has selected Prescient Fund Services (Ireland) Limited as the fund administrator for its Maltese fund range, consisting of the Reitway Global Property Fund (MLT) SICAV p.l.c. and the Reitway Enhanced Global Property Fund (MLT) SICAV p.l.c. Both funds are regulated by the…
Sands Capital consolidates Irish UCITS admin with Northern Trust
Sands Capital Management, a U.S.-based manager with USD58bn AuM, has selected Northern Trust to provide fund administration, transfer agency, depositary and global custody services for its USD6bn Ireland-domiciled UCITS umbrella fund. The appointment consolidates provision of all asset servicing functions for Sands Capital Funds Plc to Northern Trust. The mandate builds on Northern Trust’s existing…
Carne appoints Marty Dobbins as non-executive director in Luxembourg
Carne Group, the Ireland-based provider of fund management solutions, has appointed Marty Dobbins as a non-executive director of its Luxembourg fund management company. Dobbins, who is the CEO of Sage Advisory, s.a.r.l, was formerly CEO & country head for State Street in Luxembourg. Earlier this year Dobbins was appointed as a director of Gen II…
Apex to service new Irish RE fund for Valpre Capital
Apex has been appointed to provide fund administration services, corporate and depositary solutions to Valpre Capital UK Limited, a UK-based investment firm focused on sourcing, structuring and seeding real estate and private equity investments. Apex will administer the Valpre Capital Dublin Real Estate Fund LP, which has a target portfolio size of c. EUR150m and…
Sanne promotes Rubina Toorawa to Mauritius country head
Sanne, the UK-listed provider of alternative asset and corporate business services, has promoted Rubina Toorawa from COO, Mauritius to the role of country head, Mauritius. She will be taking over from Peter Nagle as he transitions to a newly created role as managing director, global head of client growth, remaining in Mauritius.
Alter Domus opens Cayman office
Alter Domus, the Luxembourg-based provider of solutions to the alternative investment industry, has opened an office in the Cayman Islands. David Boyd has been appointed Cayman country executive, leading Alter Domus’ Cayman Islands fund administration, corporate and fiduciary services. He will report directly to Paul Woods, regional executive for North America. He joins from Forbes…