Doughty Hanson Appoints Ipes As Depositary

Private equity specialist Ipes will provide depositary services to U.K. fund manager Doughty Hanson.

Doughty Hanson is one of the first U.K. fund managers to achieve Financial Conduct Authority (FCA) approval under the Alternative Investment Fund Managers Directive (AIFMD). Its appointment of an independent depositary allows it to achieve all the criteria to qualify for a FCA “passport” to market funds in Europe.

Ipes is offering a full range of depositary functions for “other assets” as defined under the Directive; it also operates a light touch depositary service with a specialist private equity focus.

Justin Partington, Ipes’ commercial director, says: “Ipes began preparing for the AIFMD two years ago. As early as July 2012 we were approached by clients and other fund managers looking for support around meeting depositary requirements.”