Northern Trust is to provide fund administration and banking services to the recently launched Apse Capital Bridge Fund.
Apse Capital is a new independent European private equity group focusing on buyout and development capital opportunities in European tech enabled information and services businesses.
The closed-ended private equity fund has been established under Guernsey’s Private Investment Fund (PIF) regime which offers an expedited route to market for eligible funds and provides fund managers with greater flexibility.
Ashley Long, Partner, Apse Capital, says: “The Fund was launched in under three weeks, including securing the regulatory approvals. This is testament to Guernsey’s favourable regulatory environment for private equity funds, as well as the dedication of the Northern Trust professionals and that of legal advisers, Carey Olsen in Guernsey and Weil, Gotshal & Manges in London. Northern Trust has been appointed based on long standing existing relationships which have been characterised by a commitment to proactively supporting the strategic goals of the private equity funds that the investment team at Apse Capital and its predecessors have advised on.”
Dave Sauvarin, country head, Channel Islands, Northern Trust, says: “This successful launch illustrates Guernsey’s flexible and proportionate regulation allowing fund managers to access markets quickly, enabling them to respond to competitive global opportunities. The PIF is just part of the tool box of solutions for alternative fund managers looking to domicile funds in Guernsey. Northern Trust is pleased to have worked closely with Apse Capital and its legal advisers to achieve this result.”
