The fund administration landscape is changing as consolidation continues, client demands evolve and technology needs increase. Eric Bernstein, president at Broadridge Asset Management Solutions gives his take on the different approaches of providers in this space.
Vistra will support the venture capital fund across its entire fund structure, the management company, its SPVs and portfolio company investments.
The transaction expands Apex’s growing presence in Latin America, with an addition of 160 new employees and a new office in São Paulo.
The addition will help fuel Ultimus' drive to win fund administration and transfer agency mandates with larger clients.
The Milwaukee-based fund services firm will also provide fund accounting and tax reporting services, while UMB Bank will provide custody services.
The fund administration licence further expands on Crestbridge’s strategy to grow in the world’s top fund domiciles.
The acquisition of GCG marks the eighth deal announced by Apex following a spree of acquisitions by the Group in FY21.
The Boston-based custodian will use middle- and back-office technology developed by Lukka to support its crypto fund admin services.
The tech giant is now targeting the European asset management industry and looking to build from a string of mandates it has secured in the UK over the past year.