Diversified financial services group, Ocorian, is targeting growth in the €3.88 trillion Irish funds market after being granted three new licences by the Central Bank of Ireland, making it one of just a few non-bank providers based in Ireland able to offer a full range of services for a wider range of clients.
Diversified financial services group, Ocorian, is targeting growth in the €3.88 trillion Irish funds market after being granted three new licences by the Central Bank of Ireland, making it one of just a few non-bank providers based in Ireland able to offer a full range of services for a wider range of clients.
The firm, which has offered corporate and capital market services in Ireland for 15 years, now has licences covering Alternative Investment Fund Management (AIFM) services, fund administration services and real asset depositary services. This enables them to provide a bespoke and tailored service while supporting clients throughout their whole fund life cycle from establishment to fund administration, ongoing reporting, and regulatory compliance.
Ocorian is predicting strong growth in Ireland’s fund management industry fuelled by more US fund managers choosing to domicile their structures in Ireland as they launch into Europe as well as demand from UK managers looking at alternative institutional domiciles. In addition, they are also targeting existing managers that are looking for a higher level of expert client service and single point of accountability for their relationship.
Ireland’s new Investment Limited Partnerships (ILP) Act has made the country even more competitive for private investment funds particularly those based in the UK, US, Europe, and Asia. There is increased interest from private equity managers looking to establish parallel European structures to existing offshore funds to distribute to European investors.
The rapidly expanding alternative asset class market, which Ireland already specialises in will add to growth. Ireland is firmly established as Europe’s leading centre for alternative funds and the largest hedge fund domicile with 40% of global hedge funds serviced in the country.
