Brown Brothers Harriman (Luxembourg) S.C.A. said on Thursday it has been selected by Schroders Capital as central administrator and depositary bank for the launch of its first European Long-Term Investment Fund, or Eltif.
Eltifs target a growing range of investors that look for private markets strategies, something that Eltif funds can facilitate. BBH noted that these funds also present challenges including increased investor volumes, the management of investor liquidity requirements, and the use of mainstream distributors’ platforms.
“We are proud to have been selected by Schroders Capital for the launch of their first Eltif and to support them in their goals to make private markets more accessible,” said Lata Vyas, head of product for alternative funds at BBH, in a statement. “We’ve worked with many clients to build an efficient operating model that provides an integrated funds servicing experience. Our streamlined technology platform means we’re able to support private and public markets on a single platform.”
‘Harmonised experience’
BBH said its multi-year investment program in private markets has delivered a singular client service model and technology platform across all private market strategies. Managers can add asset classes and products without causing disruption to their businesses. They can streamline their operations by relying on a single source to support the valuation of their private and public assets, cash positions and accounting data, and offer their investors a harmonised experience, the New York-headquartered firm said.
“We believe that a wider range of investors should have access to the opportunities that private assets can offer. BBH’s ability to support our democratisation journey across public and private strategies has been a key differentiator in our efforts to expand access. We’ve valued their consultative approach when partnering with us on the launch of our first Eltif,” said Peter Arnold, COO of Schroders Capital.