Intertrust Group wins fund admin mandate from European private equity firm KLAR Partners 

KLAR Partners closed its debut fund last month at a hard cap of €600 million, one of the largest European first-time funds raised in the last 10 years.

By Joe Parsons

Dutch-based Intertrust Group has been appointed by private equity firm KLAR Partners as its new fund administrator and depositary services provider.  

Intertrust will provide fund administration, depositary and SPV Management services to KLAR Partners across Luxembourg and Sweden.  

KLAR primarily invests in companies based in the Nordics, Benelux and DACH regions, and last month it announced the final closing of its debut fund, KLAR Partners I, at its hard cap of €600 million. 

The fund is one of the largest European first-time funds raised in the last 10 years and the largest raised during the COVID-19 pandemic in the region. 

Following a competitive tender, Intertrust said it was appointed based on its bespoke offering, operational strength to service the entire vertical fund structure, and its strong European foothold. 

“KLAR’s highly successful debut fundraise during the COVID-19 pandemic is a testament to the strength of its investment approach and we are confident that our strong asset class expertise and bespoke global service offering will be instrumental in supporting KLAR’s growth ambitions, said Edwin Chan, director, UK fundsIntertrust Group 

According to a recent survey conducted by Global Custodian and Intertrust Group of private capital fund chief financial officers (CFOs), the majority admitted that they expect investor demands for enriched and more frequent data to intensify over the next few years. 

The survey results also showed CFOs are gearing up to meet demands for real-time or quasi-real-time data about the status of their investments.