Augentius Fund Administration, the specialist private equity fund administration group whose management bought the company from private banking group Ansbacher last year, has formed and obtained regulatory approval for Augentius Trust Company (Guernsey) Limited.
“Offshore Private Equity structures often utilise Unit Trust and Charitable Trusts in their structuring,” explains Barry Carroll, Senior Partner of Augentius Fund Administration LLP. “We have established the Trust Company to facilitate the administration of the complete structure rather than GPs having to use multiple offshore providers. In addition, Employee Share Schemes and similar structures are sometimes used within the Private Equity sector and again, where we are administering the fund, Augentius is now in a position to provide all aspects of the administration to the structure as a whole. This is only one of a number of initiatives underway following our MBO in August 2006. We will continue to expand our business, our range and quality of services to the Private Equity community.”