Centaur’s newly-launched enhanced private equity service has won a major contract with a USD20 billion multi-strategy, multi-jurisdictional US headquartered private equity group.
The win came about after a detailed Request for Proposal (RFP) process, highlighting three principal requirements: service consistency that the client was not receiving from their previous administrators, stability within the service teams and administrator independence.
Centaur was selected as a result of its service, better contractual terms, independence and experience.
Eric Bertrand, founding partner of Centaur Fund Services, says: “We are delighted with this major private equity client win. With multiple fund structures across multiple jurisdictions and administrators, the conversion process had to be extremely organised, executed efficiently and timely. We followed a project management plan for each stage of the transition of the funds, from signing the contracts to going live as administrator. The coordination between Centaur’s team and the client’s middle and back office team has been crucial for the success of this project.
“We are delighted to build on our US success with this significant win. We have seen a dramatic rise in the number of private equity firms outsourcing the administration of their operations and Centaur’s Private Equity service is now firmly established to fulfil and exceed every need.”