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Case study

How we helped a private equity manager take their investments to the next phase of development

8 February 2021

The client

A private equity investment fund manager investing in the pan-Africa region and with $1.6 billion assets under management, our client is building a diversified portfolio of investments in companies that have positive cash flow and strong management teams. They are also focused on companies that operate in high growth industries such as communication, financial services, food services, irrigation, transport logistics and facilities management.

Our services to the client include registered office, director, corporate secretarial, compliance (from Guernsey), fund administration and fund accounting (from Jersey).

Their challenge

They had a number of challenges and required a partner with a flexible viewpoint that was able to provide a bespoke servicing model. A number of holding company structures were spread across multiple jurisdictions, each with its own local provider, and they wanted to move to a centralised accounting model based out of the Channel Islands. This relationship would cover the main funds, carry vehicles and all holding companies, and would create a single source of truth for all reporting globally.

The client, whose second vintage fund was fully invested, was to launch their third vintage main fund, and wanted this domiciled in the Channel Islands. Complicating the regulatory requirements was, due to their jurisdiction and type, some of the fund’s Limited Partners (LPs) required enhanced and bespoke reporting and transparency from the administration partner.

Our solution

Intertrust Group’s global footprint, expertise in fund management and market-leading technology, such as Investran, was the only choice for this client. We were already providing administration services for a parallel vehicle to the first fund vintage, and pushed to transfer the second fund vintage from a competitor while simultaneously supporting the launch of the third fund vintage.

Based on the client’s need for flexibility and autonomy, we proposed a two-office approach to the client: we provide company secretarial, compliance and director services from Guernsey, who would be supported in other fund administration tasks, accounting and technology support from Jersey. The technology in particular was important to this client; we showcased IRIS, our intuitive client portal, and other bespoke creations during the pitch process, displaying how the client’s needs could be handled with the required transparency and flexibility particular to the client’s LPs.

After we worked with the client to launch fund three, which is looking at around 10 new investments structured across jurisdictions, we successfully onboarded the second fund including all historical data. The relationship continues to grow as the client does.