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Enhance Group, a Jersey-based investment consultancy firm, has selected Unity NXT AIFMD Transparency Reporting from Confluence for its AIFMD transparency reporting requirements.
“Considering the highly detailed and complex task of collecting and validating the data, calculating the responses and filing the reports electronically in the specific technical and language requirements of multiple regulators, we were looking for a robust technology solution that provided us with accuracy, control and a fully auditable process,” says Enhance Group alternative investment consultant Nicola Le Brocq.
“Confluence has deep expertise in alternative investment data management and automation and a proven track record with similar
Venture capital fund Electranova Capital has invested in the German company Sunfire.
Total Energy Ventures, the venture capital arm of the French major oil company, is also participating in this new round.
Sunfire develops high temperature fuel cells (SOFC) which convert gas into electricity and heat for several markets (such as micro CHP, off-grid, marine and IT servers) as well as high temperature electrolysers (SOEC) which produce hydrogen from water and electricity that can be used in industrial sites, H2 mobility, “power-to-gas” and “power-to-liquids” installations.
This new round of financing will help Sunfire consolidate its position as one
For the most part a lot of the drama surrounding the role of depositories and prime brokers under AIFMD has subsided. All parties concerned have pretty much fallen into line and are clear with what everyone’s roles and responsibilities will be. This is certainly true of Deutsche Bank who are fully AIFMD-compliant and already actively engaged in signing depository agreements with clients.
“We have a model that looks at sole depository services and how that might look in terms of level of reporting, level of due diligence required. We’ve already taken on board mandates where we act solely as the
ConceptONE LLC specialises in regulatory and risk reporting, an area of expertise that is fast gaining prominence as alternative fund managers begin to comprehend the enormity of regulatory compliance.
“We have developed a regulatory enterprise risk management solution – RegERMTM – specifically to meet the regulatory reporting challenge,” states Gary Kaminsky (pictured), Managing Director, Global Regulatory & Compliance at ConceptONE.
“It’s a holistic system because regulatory reporting now comes in many forms: not just Annex IV reporting under AIFMD, but Forms PF and CPO-PQR under Dodd Frank and EMIR and ESMA short selling.”
Annex IV reporting shares certain
Both depositories and fund administrators face huge demands from a data management perspective under the AIFM Directive. For any depository appointed by an AIFM running an onshore hedge fund, the scope of responsibility is greater than that required under a depository lite scenario for AIFMs running non-EU funds. This is because of the strict liability placed on the depository to return assets to the AIF in the event that something unforeseen happens and assets are lost.
Combined, the depository to an alternative investment fund (AIM) will have three core tasks to perform safekeeping of assets, cash monitoring, and general operational
By Gavin Byrnes, UBS Fund Services – The Alternative Investment Fund Managers Directive (“AIFMD”) has caused much rancour and debate over the last few years but at last the end is in sight. Some of the more challenging aspects of the Directive have centred on the Remuneration and Depository provisions, which the industry as a whole has struggled to understand and establish within their businesses.
Below are some of the practical challenges and considerations that managers should already be addressing pertaining to their Depository arrangements; in particular Article 21 of the Directive, which is still a provision where managers face
SuMi TRUST Global Asset Services provides sophisticated fund administration and custody services in the UK and Ireland and is backed by Sumitomo Mitsui Trust Bank Ltd (SMTB), the largest Trust Bank in Asia with over USD3tn in assets under custody.
David O’Keeffe (pictured) is the CEO of SMT Trustees (Ireland) Limited, the Irish Trustee/Custodian company. He notes that with SMTB’s A+ rating by Standard & Poor’s, a custodial network that extends into 100-plus markets, and the strength of a considerable balance sheet, SuMi TRUST can support alternative investment fund managers as they clamber to appoint a depository – either in an
The Alternative Investment Fund Managers Directive (AIFMD) has many moving parts for alternative investment fund managers to get their heads around. But perhaps one of the most salient issues they face – particularly managers running offshore funds – is the requirement to appoint a depository.
The vast majority of hedge fund managers have never had to do this before and whilst much of the dust has settled in terms of cost impact, there are still a lot of operational and practical details that managers are looking to get answers for.
At the heart of this is determining the type
Clarity Software Solutions, a provider of on-demand document management and communications delivery solutions for the health insurance industry, has secured growth investment from venture capital firm North Bridge.
The investment will be used to accelerate the company’s growth trajectory by adding executive talent, investing in strategic sales and marketing initiatives, and further expanding its suite of products.
As the healthcare industry continues to evolve, Clarity’s solutions enable health plans to manage delivery of critical communications while allowing them to comply with regulations and adapt to changing business needs and customer preferences. Clarity’s technology platform addresses the increasing complexity of
The Securities and Exchange Commission has charged an Arizona-based private equity fund manager and his investment advisory firm for orchestrating a scheme to misallocate their expenses to the funds they manage.
The SEC enforcement division alleges that Scott A. Brittenham and Clean Energy Capital (CEC) improperly paid more than USD3m of the firm’s expenses by using assets from 19 private equity funds that invest in private ethanol production plants.
CEC and Brittenham did not disclose any such payment arrangement in fund offering documents.
When the funds ran out of cash to pay the firm’s expenses, CEC and Brittenham
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