Fund administration
BPEA EQT completes Vistra, Tricor merger
BPEA EQT has completed the merger of Asia-headquartered corporate services providers Vistra Group and Tricor Group through a transaction that values the combined business at USD 6.5bn.
Q&A: Affirma Capital's Ivo Philipps
Affirma Capital came into being 18 months ago as Standard Chartered’s private equity team spun out with most of the remaining balance sheet assets. COO Ivo Philipps explains the middle and back office transition
COOs in Asia private equity: Horses for courses
The COO role is gradually becoming more prevalent in Asian private equity, but GPs struggle to find the right combination of financial skills and business acumen. The optimal candidate is often internal
Asia fund administration: Odd jobs
COVID-19 is the latest in a growing list of drivers causing private equity firms to outsource various operations. The trend is implacable but inherently flexible
Australia's Link Group rejects PEP, Carlyle buyout offer
Australia-based financial data and fund administration services provider Link Group has rejected a A$2.7 billion ($1.97 billion) buyout offer from Pacific Equity Partners (PEP) and The Carlyle Group, saying it materially undervalues the company.
SGG acquires PE fund administrator Augentius
Private equity and real estate fund administrator Augentius has been acquired by SGG Group, an investor services provider to alternative asset managers, corporations, and high net worth families.
Valuation standards: Counting their blessings
Asian GPs’ portfolio valuation practices remain largely opaque, despite the value of standard frameworks. LP demand will be key to moving the industry in a more transparent direction
Augentius appoints new Asia head
Fund administrator Augentius has appointed Jimmy Leong as managing director for Asia following the departure of Alexander Traub to Alter Domus.
Information issues: Fund administration in Asia
Private equity firms in Asia are increasingly willing to outsource fund administration, but they appear to be slower than their global counterparts in embracing more sophisticated middle office functions
Permira to buy Hong Kong-based corporate services provider for $835m
Permira has agreed to buy Tricor Holdings, a Hong Kong-headquartered business, corporate and investor services provider, from Bank of East Asia (BEA) for HK$6.47 billion ($835 million).
CHAMP’s Wardman-Browne joins IFM private capital team
Australia’s IFM Investors is aiming to enhance its PE business with the appointment of former CHAMP Ventures co-head Stuart Wardman-Browne as executive director of the investment group’s private capital team.
China fund administration: In or out?
Whether they are US dollar managers upgrading their LP bases or renminbi GPs tapping offshore investors for the first time, China PE firms increasingly see the reputational value of independent administration
Asian GPs want training from fund administrators - survey
More than one third of Asia-based GPs would like fund administrators to provide additional training services, a demand that likely reflects growing concerns in the region about tax regulation, according to a survey.
Offshore service providers see regulation driving up costs - survey
The law firms, corporate service providers and accountants responsible for the offshore structures that underpin most private equity funds and transactions expect costs to rise as tighter regulations take hold.
Mitsubishi UFJ to buy UBS' alternative fund services unit
MUFG Investor Services, the asset servicing group of Mitsubishi UFJ Financial Group, will buy UBS Global Asset Management's Alternative Fund Services (AFS) business.
Fund administrator Augentius hires Asia head
Augentius has appointed Alex Traub as managing director of its Singapore office from where he will manage the fund administrator’s existing client relationships in Asia and take the lead in business development.
Singapore vs. Hong Kong: Shifting sands
Fund administrators are seeing increased demand from GPs for back office services in Singapore. Hong Kong isn’t the definitive loser, but the territory’s lack of tax and regulatory certainty for PE is a factor
Fund admin: In house or out?
Asian private equity is becoming institutionalized, with increasingly sophisticated and international LPs asking GPs to bulk up their back office capabilities. Third-party administrators sense an opportunity
State Street opens Shanghai office
State Street has opened an office in Shanghai to provide fund administration, accounting and related services to private equity, real estate and hedge fund clients with business development initiatives in China.
Australia’s IFM consolidates private markets platform
Industry Funds Management (IFM) has merged its private equity and private assets groups into one team, creating a new investment platform to be headed by current head of the private assets division, Phillip Bower.
Archer cuts fees on buyout fund – report
Archer Capital has reportedly lowered the management fee on its A$1.5 billion ($1.34 billion) fifth fund by 20%.
Profile: American Capital's Paul Hanrahan
After 20 years at energy and infrastructure specialist AES Corporation, Paul Hanrahan now covers a similar beat for PE firm American Capital. He reflects on what has changed and what hasn't
Taiwan’s SinoPac to enter fund admin business
Taiwanese financial services company SinoPac plans to set up a fund administration unit in Hong Kong targeting private equity and hedge funds with less than $100 million in assets under management.
Vistra launches umbrella fund structure
Vistra Fund Services has launched an umbrella fund structure through which clients can establish segregated portfolio or sub-funds in Hong Kong, the Cayman Islands, the Netherlands and the UK. Known as the Privium Capital Fund, it offers a fast and cost...