Vistra launches umbrella fund structure

The Privium umbrella fund is based in the Cayman Islands, with Vistra providing administrative and related services from its Hong Kong, Luxembourg and Jersey offices. PricewaterhouseCoopers' Hong Kong, Cayman and Netherlands practices will take care of auditing, with Maples & Calder responsible for legal support. Banking and custodian arrangements can be specified by clients, depending on their needs, and are not limited to any one jurisdiction.

Privium will also offer support in terms of fund set-up and design, marketing, compliance and approval, physical office and risk management modeling.

"The new Privium Capital Fund adds to our range of services and delivers a higher level of flexibility," said Charles Kwun, managing director of Vistra Fund Services Asia. "It allows clients to have fund and management separately domiciled in a range of locations of their choice, and offers tremendous savings in initial set-up and ongoing costs, as well as a short implementation time, which we think will be of particular interest to the Far East and Asian markets."

Vistra launched its Asian unit in February to complement existing operations run out of Jersey and Luxembourg. The firm is primarily focused on alternative asset managers, including those in the hedge fund, real estate, private equity and venture capital spaces.

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• Topics
• Advisory
• GPs
• Greater China
• professional services
• Fund administration
• China
• Offshore