Examples of fund administration tasks include the preparation of financial statements, the calculation of fund performance, and the maintenance of the books. Ipes has 20 staff based in luxembourg, and also expects to expand the team over the next year. Ireland is the leading global centre for the administration of alternative funds and we are sure that this updated guide will be a valuable tool both to the fund administration industry and to the managers and other stakeholders who use the services of or interact regularly with fund administrators. Until recently, it was not uncommon to find some relying on excel spreadsheets and basic general ledger software packages. Asset servicing times apex announces acquisition of ipes. Broadscope is committed to providing highquality fund administration to the private equity industry and the senior team has done so since 1991. Maintain accurate records of all fund transactions. Fund administration as a development finance institution, pidb may administer loan funds for various governments in the region. The buyout last year allowed us to restructure the business for further growth, said kevin brennan, chief executive of the private equity fund administrator. Accounting services remain at the heart of the business and are the core responsibility for apexs fund accounting teams around the world. Investment fund administrators are responsible for servicing and managing a fund. I have worked in fund administration for five years in an offshore jurisdiction. Ipes has over 90 clients and administers 230 funds. Geraldine kennel, an ipes board member, implied that merry would be at the helm of many developments for the company.
With the everincreasing focus on transparency, managing funds effectively is critical. Apex fund services continues acquisition spree with ipes purchase. Based in boston, we provide tailored, comprehensive backoffice solutions that relieve fund managers of the administrative tasks associated with funds. Established in 1972, gvnw is a telecommunications management consulting firm that provides a wide variety of consulting services, including state universal service fund management and administration. We are delighted to have supported phoenix equity partners through the close of its fourth fund. Apex announces acquisition of ipes, positioning the group as. Funds administration is the name given to the set of services provided in support of the running of a fund. Half of the members who sit on the policy committee are elected by members of the fund, and half are nominated by the company. This includes regulation, investor demands for more information and the increased frequency of coinvestments, merry says. Fund services introduced by michelle mcnaney, director. Today ipes is a leading specialist offshore providers of private equity fund administration, servicing more than 300 funds with more than 4,000 investors for 56 client groups, including nine clients with more than eur500m in funds under management.
Fund administration team listing brown brothers harriman. Nicola founded schroders private equity services in guernsey in 2003 and was responsible for creating a competitive fund administration business which was targeted and bought out by jpmorgan in 2010. Apex has continually improved and evolved its product suite by surrounding these core administrative services with additional products spanning the full value chain. Guernsey private equity fund administrator bucks the. The company was founded in 1998 and has grown to become the leading specialist provider of private equity fund administration and outsourcing services. As an independent firm comprised of experienced cpas, we take a handson approach in delivering practical and costeffective backoffice solutions that help clients operate efficiently.
The text covers the syllabus for the fund administration module and is structured to help in planning a programme of study. Private equity fund administration has been slow to embrace the deluge of new technology on offer compared with adjacent industries. The activities and tasks required to run a mutual fund, hedge fund or other type of investment that pools resources. Administration and assurance for your funds vision apex was originally founded in 2003 as a fund accounting solutions provider. Under this program, pidb will perform the entire lending function from loan application to approval, disbursement, and collection. Apex announces successful closing of deutsche bank. Fund administration altree fund services combines marketleading technology with proprietary inhouse architecture to ensure that each and every client receives worldclass service and support we work collaboratively with our underlying clients to help grow their individual asset management businesses. Fund custody and administration provides an overall perspective of investment funds without limiting its analysis to specific fund structures, as other books do.
Ahead of the publication of peis fund administration special next week, we outline the top 10 trends in the industry. Fund administrator apex and genstar capital have acquired ipes, another fund administrator. Ipes is a leading provider of outsourced services to private equity. Our services extend well beyond basic accounting and reporting. The fact that the fund had such high commitments shows the confidence the market has in their investment and management capabilities.
Dec 15, 2006 fundamentals of fund administration fills a gap in the lack of books that cover the administration and operations functions related to funds. Loans will be approved based on a set of guidelines agreed to between pidb and the member government. Apex becomes fifth largest administrator with ipes acquisition. European private equity firm silverfleet capital is to buy ipes, a provider of fund administration and outsourcing services to the private equity industry, from. Emma morgan administration senior manager apex group. Respond to fund accounting inquiries in a timely fashion.
From cybersecurity to regulatory and tech needs, firms are turning to fund admin to tackle a growing list of lp demands. Apex announces acquisition of ipes, positioning the group. Here youll find current best sellers in books, new releases in books, deals in books, kindle ebooks, audible audiobooks, and so much more. But we know integrating systems, automating processes and consolidating data is costly and time consuming. Apex fund services agreed to acquire private equity fund administration services provider ipes alongside genstar capital.
Ipes, which offers fund administration and outsourcing services to the private equity industry, also said it plans to develop its product range under merry s leadership. This site has been carefully prepared to ensure accurate information, however the trustee reserves the right to correct any errors or omissions. Private equity accounting, investor reporting, and beyond 1st. Ipes is a provider of fund administration, depositary, fund governance and investment services to private equity firms. Custom house global fund services limited is a leading independent hedge fund administration specialist ideally located to deliver services in europe, asia and the americas. Cos asset management and servicing business in addition to private equity fund administrator, ipes. The firm offers services in the areas of administration, depositary, investor services and fund governance services. Guernseybased fund administrator ipes sold to competitor. Todays top 611 fund administrator jobs in united states. Bateman will be based in the guernsey office, where he will manage an administration team responsible for private equity funds.
The company offers a range of fund administration services, including fund launching and accounting, investment processing, investor relations, carried interest, outsourcing, compliance, banking, and depositary services. Apex fund services, established in bermuda in 2003, is one of the worlds largest specialist fund administration and middle office solutions providers. Fund services administrators fund accounting, fund. In this role melissa is responsible for bringing market intelligence to internal working groups, managing regulatory and risk profiles with regard. Administration is outsourced to a thirdparty fund administrator. Outsourced fund administrators are increasingly looking to embrace. Private equity fund administration has been slow to embrace the. Apex becomes fifth largest administrator with ipes. You should refer to the product disclosure statement for your category of membership for more information. Vms fund administration state street ipes gen ii fund services, llc gen ii fund services, llc northern trust fund administration leverpoint management augentius augentius standish management jp morgan fund services sei investments venture back office vms fund administration leverpoint.
Ipes bolsters team with two new hires private funds cfo. The average fund administrator grew its private equity and private debt book by 11 percent. Mar 15, 2017 david bateman and sumindra bainscleary have joined ipes, a europefocused private equity fund administrator. Ipes is still headquartered in guernsey and employs 265 people across five european offices. Fund administration is the name given to the set of activities that are carried out in support of the process of running a collective investment scheme, whether the scheme is a traditional mutual fund, a hedge fund, pension fund, unit trust, or something in between managers of funds often choose to outsource some or all of these activities to external specialist companies, such as a fund s. It contains general information about your fund and your super. List of fund administrator responsibilities and duties. Apex announces acquisition of custom house adding an. Specialized fund services and knowledge ips fund services is an independent fund administrator serving private equity and venture capital funds.
Types of funds include hedge funds, mutual funds, fund of funds, pension funds, unit trusts or other similar structures. The everchanging regulatory landscape, increasing investor demands and rapidly evolving use of technology are driving a trend towards outsourcing in the fund administration industry. Private equity administrator ipes acquired by management. Ipess competitors, revenue, number of employees, funding. With the growth of hedge funds globally there is more and more requirement for fund administration services, and the success of the fund administration is crucial to the success of the funds themselves in a highly competitive market. Analyze fund requirements and deposit funds appropriately. Learning outcomes linked to the syllabus are highlighted to help students focus on the examination requirements for the module. Jan 09, 2020 7 reasons us private equity firms are finally outsourcing their fund administration. Guernseyheadquartered ipes has bucked the economic trend in the year following its management buyout. Analyze funding issues and suggest corrective actions. Youll want to ensure that the credentials of the service provider measure up, from their track record with clients and the quality of their systems to the expertise and experience. Apex has agreed to takeover private equity administrator and depositary ipes in a deal that will propel it becoming the worlds fifth largest fund administrator. This has included attracting 17 new funds to its administration portfolio. We have the knowledge and experience needed to understand the special requirements of investment managers and with this understanding we have developed a complete approach to servicing this market.
Ipes guernsey limited about ipes ipes is a leading european provider of fund administration and outsourcing services to the private equity. Our services include fund administration, depositary, fund governance, fatca and the common reporting standard crs. Ipes is ranked as one of the top five fund services providers globally based on private equity assets under administration. Barry mcclay, ipes head of fund administration, commented. Fund administration services state street corporation. Ipes clients have been turning to thirdparty administrators because of the growing complexity of running a private fund.
Apex, one of the worlds largest fund administrators, and genstar capital jointly announced today the acquisition of ipes, a leading provider of fund administration and other services to the private equity sector. He joins from conifer financial services, where he. Three trends shaping the fund admin business private equity. Ipes innovates through development of new services and solutions to help clients succeed.
Funds administration overview introduction to funds. Augentius fund administration llp provides private equity fund and real estate administration services. The highprofile deals include equinoxe alternative investment services, mm warburg asset servicing and deutsche banks alternative fund. Members may also have their say with respect to the running of the fund through the policy committee. The books homepage helps you explore earths biggest bookstore without ever leaving the comfort of your couch. Ipes provides fund administration and outsourcing services to the private equity industry. No matter where you are in the world we can service your fund. As one of the largest private equity fund administrators and depositaries, ipes works with 195 clients and provides administration and depositary oversight for 390 funds. A fund administration ecosystem for agile growth investment operations investment operations reconciliation about fis investment operations fis investment operations is a global suite of products and services for asset managers, institutional investors, and traditional and alternative fund administrators. Here we take a closer look at these core catalysts as well as the different operational models available to ensure that, once a decision to outsource has been made, fund managers are able to retain the level of.
Iqeqs acquisition of augentius and apexs acquisition of ipes. View emma morgans profile on linkedin, the worlds largest professional community. Ipes in guernsey was appointed as the fund administrator. As one of the largest european private equity fund administrators and depositaries, ipes works with 195 clients and provides administration and.
The trustee runs the fund in accordance with a legally binding document called the trust deed. Feb 23, 2011 fundamentals of fund administration fills a gap in the lack of books that cover the administration and operations functions related to funds. Whether youre outsourcing all or some of your accounting, administration or investor services requirements, its a big decision and one you need to get right. Ipes secures approval in ireland and luxembourg global.
Ipes, which helps private equity firms administer funds and keep investors informed, has been bought by silverfleet capital, owner of the shoe. Fund administration is at the core of apexs offering and we therefore strive to deliver timely, accurate and independent portfolio administration through the use of cutting edge technology and highly qualified personnel with local expertise. Funds are treated like companies and, like all companies, annual and interim sets of accounts must be prepared and published. Perform monthend account closings and reconciliations. Our service offering is comprehensive covering all entities within a fund complex. Fund managers have adopted an outsourcing arrangement for a reason, the onus is on the fund administrator to add real value, whether that be providing exceptional systems capability, regulatory expertise or compliance, he says. Augentius fund administration llp, private equity funds in.
Apex group and genstar capital jointly announced the acquisition of ipes, a leading provider of fund administration and other services to the private equity sector. Since governance and oversight of investment funds are now major regulatory requirements, administrators and custodians must place greater emphasis on the custody and safekeeping of fund assets, on the independent and robust valuation. Fund services administrators, service providers, wideranging resources. In todays fund administration market, the top full service. One of our clients based in durbanville is looking for an operational administrator funds and consultants. State streets fund administration services can help you comply with regulatory, financial and tax reporting requirements. Fundamentals of fund administration fills a gap in the lack of books that cover the administration and operations functions related to funds. Ipes was founded in 1998 and pioneered a specialist approach to fund administration within the european private equity market. Pacific islands development bank fund administration. Melissa mcdonough serves as the fund administration technical leader at brown brothers harriman.
Ips fund services ips provides outsourced fund administration and accounting services to small and midsized private equity and venture capital funds. Hamilton, bermuda, june 6, 2018 prnewswire apex group ltd. Ipes was founded specifically with private equity in mind and pioneered the private equity specialist approach to fund administration in europe. Ipes also supports clients with compliance, banking and the administration of carried interest, coinvestment schemes as well as listed funds. Nicola spent 20 years at schroders both in bermuda and guernsey. Ipes employs 285 people, in five jurisdictions and works with 198 clients and provides administration and. Fund administration is the name given to the set of activities that are carried out in support of the process of running a collective investment scheme, whether the scheme is a traditional mutual fund, a hedge fund, pension fund, unit trust, or something in between. Nav calculation subscriptions and redemption or transfer agency role fund accounting and reporting as required by regulation. Ipes, which helps private equity firms administer funds and keep investors informed, has been bought by silverfleet capital, owner of the shoe retailer office. Apex is a global institution with the ability to retain a focus on delivering exceptional client service locally. Established in 1998, ipes group is a london, united kingdombased provider of fund administration within the european private equity market. Private equity accounting, investor reporting and beyond takes the discussion around private equity accounting to the next level beyond the basic private equity accounting principles identifying areas of importance where things can go wrong and delving into the intimate details of the different subasset classes such as real estate funds, infrastructure funds, debt funds, mezzanine funds, fund. Ipes headquarters is located in london, england, gb ec3r 7aa.
The companys services include fund launchestablishment, accounting, investor relations, corporate secretarial, and carryfounder partnercoinvestment vehicle services. Until recently, it was not uncommon to find inhouse teams, and even outsourced administrators, relying. Jun 07, 2018 apex group and genstar capital jointly announced the acquisition of ipes, a leading provider of fund administration and other services to the private equity sector. Nicola walker managing director belasko administration limited. Data, after all, is the fund administrators greatest asset and much is invested in maintaining its quality to the highest standards. Review audit documents and financial statements for any discrepancies.
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