European Specialist Administrator of the YearWinner – IQ-EQ
The winner was selected for a strong entry that demonstrated growth, extensive coverage among top private equity firms, and for being able to demonstrate not just ambitions, but how those ambitions are being implemented.
Many firms in this area have evolved their fund services out of offshore corporate trust services. What has become generally known as the ‘specialist fund administration’ sector has seen a rampant level of activity in recent years, as institutional investors and mainstream asset managers continue to diversify into ‘alternative’ asset classes.
These firms are often small in comparison to the larger fund administrators that congregate around Ucits fund managers. A key challenge for specialist fund administrators is to bring the same level of automation to the private assets sector that fund managers and clients in the Ucits sector are accustomed to.
In the 12 months to May 31, the firm enjoyed significant organic growth in the funds and asset managers segment, following a previous strong year. There were also some innovations on the service side, including the unveiling of IQ-EQ Launchpad, an initiative designed to address the prevailing gender imbalance in the industry.
In addition, IQ-EQ launched its Hybrid Funds Desk to cater for the growing demand for single integrated administration platforms for servicing liquid and illiquid assets end-to-end.
ShortlistedAlter Domus – The Luxembourg-based administrator invested heavily in technology in 2021 and increased this commitment into 2022 as it seeks to help clients with their biggest administrative challenge: data. Alter Domus has also launched the client-facing technology platform CorPro, designed to digitise client workflows to improve access to data.
Apex Group – The highly acquisitive Apex Group has continued to buy up regional specialists in a bid to grow its global capabilities. This includes the purchase of Maitland, which added $200 billion of assets under administration, and Mainstream Group.