Fund administrator Augentius has launched a depositary company for private equity and real estate managers. Augentius Depositary Company will provide Alternative Investment Fund Managers Directive (AIFMD) compliant depositary services in the UK to existing clients and to those managers who require stand-alone depositary services.
Private equity and real estate managers will need to appoint a depositary who will interface with their bankers and others, without causing any disruption to existing procedures and practices.
Augentius is already acting as custodian to a number of clients under the Dodd-Frank Wall Street Reform and Consumer Protection Act. In Europe, it has participated in discussions with the European Securities Markets Authority (ESMA) and subsequently had ongoing discussions with the UK Treasury and the Financial Services Authority regarding the development of the depositary product within the UK.
Augentius has for many years been a regulated custodian in Guernsey and will provide the necessary depositary services in Guernsey and Jersey to meet the requirements of the AIFMD.
(JDC)