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Last May, MS Management Services SA, a Luxembourg-based subsidiary of the Maitland group, received authorisation from the CSSF to act as a third-party AIFM to alternative investment funds. At the same time, it established its own umbrella fund platform, MS SICAV SIF, to support managers wishing to fast track the process of launching an AIFMD-compliant fund in Europe.
Although less than a year in operation, there are already plans to extend the AIFM license capabilities to support private equity and real estate managers, in addition to hedge funds.
“We already provide administration services for PERE funds. Also, we have the
Ask any AIFM what the key regulatory challenge is under AIFMD and the response is unanimous: Annex IV reporting.
The first deadline, 31 January 2015, has passed. But there are still many points to clarify on a substantial transparency report; one that any manager, EU or non-EU, must file regardless of whether they are using the AIFMD passport or merely privately placing their offshore fund in one or two markets.
“EU-based AIFMs left it to the very last minute to begin the process and there was a mad scramble to gather a range of disparate data from all their service
Alternative fund managers wishing to continue to market their funds into Europe have to navigate unchartered territory. The AIFMD only really kicked in last July at the end of the grandfathering period, since when both EU and non-EU AIFMs have started to treat the directive more seriously.
This is a complex piece of regulation and, in a similar fashion to the UCITS framework, managers have multiple options available to them. This report considers one option in particular – appointing a third party AIFM (or Management Company), and the fund distribution benefits that this can bring; be it for new funds
Audax Group has made a significant investment in Corepoint Health.
Headquartered in Frisco, Texas, Corepoint delivers a simplified approach to internal and external health data integration and exchange for hospitals, radiology centres, laboratories, and clinics. Corepoint’s software solutions help health care providers achieve interoperability goals that create operational leverage within their care organisation. Audax’ investment will fund the continued growth of Corepoint and the ongoing support of its customer base.
“Corepoint is a leading provider of interoperability software with an unparalleled reputation for customer service and satisfaction. We look forward to partnering with the Corepoint team to continue to grow
Independent fund administrator Apex Fund Services has appointed Dennis Westley as Managing Director, North America with immediate effect.
By leveraging Apex's ability to bring global fund structures to the US, Westley will have responsibility for growing Apex's North American operations and integrating potential acquisitions. Reporting directly to Apex's Global CEO, Bill Salus, Westley will also manage Apex's offices in New York, New Jersey, Florida and Toronto.
Westley has over 30 years experience in the investment and financial services industry. He was previously a managing director in BNY Mellon's Alternative Investment Services group where he was Head of North American Client
NewSpring Capital’s NewSpring Holdings, the firm’s dedicated control buyout strategy, is to purchase X5 Solutions, a provider of a complete suite of telecommunications solutions.
The transaction is pending regulatory approval and targeted to close in March, 2015.
NewSpring has partnered with a new senior executive team with experience leading and growing companies in the telecommunications industry to acquire X5 Solutions. Greg Forrest and Rick Hirsh bring decades of executive-level experience serving as founders and CEOs of several large, successful B2B technology service providers and technology integrators.
The acquisition is part of a long-term growth strategy by NewSpring to help provide
Cavendish Asset Management, which runs the only AIM OEIC in the market, has reviewed the AIM market for 2014. Peter Renton, Equity Analyst at Cavendish comments,
The past year has been a tremendous success for the IPO market on AIM, with 79 new companies floated on the exchange during the year – the highest number of IPOs since 2007, and 30% more than in 2013.
That’s according to Cavendish Asset Management, which runs the only AIM OEIC and has reviewed the AIM market for 2014.
Peter Renton, Equity Analyst at Cavendish, says: “More than GBP2.6 billion in new capital was
Prudential has provided GBP85 million to build the new hospital, which is designed to ensure Edinburgh maintains its reputation as a world-class centre of excellence in medicine.
The new building in Little France will replace the existing Royal Hospital for Sick Children, and include services from the Department of Clinical Neurosciences and Child and Adolescent Mental Health Services.
Prudential’s long-term insurance funds will provide the funding for the development through its European asset management arm, M&G Investments. Prudential currently has over GBP40 billion of infrastructure and property holdings through M&G.
The deal underlines Prudential’s commitment to invest in
WeTransfer, the global file-transfer service, has completed a major Series A round of funding from top-tier investor, Highland Capital Partners Europe.
The funding round will support the rapid growth of WeTransfer across the US, Europe and beyond. Highland Capital Partners Europe, which has previously invested in Matchesfashion.com and Brandwatch in the UK and Rent the Runway and Malwarebytes in the US, has invested USD25 million, taking up a minority share in the business.
The successful completion of fundraising is a new milestone for WeTransfer, providing the company with an injection of both capital and expertise. With its track record of
Online money transfer service WorldRemit has raised USD100m in a Series B funding round led by Technology Crossover Ventures (TCV), with participation from existing investor Accel Partners.
WorldRemit is a global leader in smartphone and web-based money transfers – providing a convenient, low-cost alternative to expensive brick-and-mortar agents.
The company enables a growing share of the USD550bn in remittances sent each year by expatriates and migrant workers to their homelands.
This investment will allow WorldRemit to extend its existing reach of 50 send countries and 117 receive countries, and expand partnerships with Mobile Money wallets operated by telecoms companies in
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