FE fundinfo boosts German service with Dericon acquisition
FE fundinfo, a Luxembourg-based financial data company that connects the asset management industry to distribution networks across the UK, Europe, and Asia Pacific, has announced its acquisition of Dericon, a fintech firm based in Frankfurt. Financial details were not disclosed.
Aztec Group gets Luxembourg AIFM license
Jersey-headquartered Aztec Group has announced the launch of its Alternative Investment Fund Manager (AIFM) service in Luxembourg. This new service offers a range of support functions required by alternative investment managers establishing and managing European alternative investment funds. The services include marketing, compliance, risk management, regulatory reporting, and portfolio management.
Staff-ing up: LGIM anchors new private strategy in Luxembourg
LGIM has launched its first Luxembourg-domiciled fund, aimed at international institutional investors, to expand its private markets strategy. It’s called ‘Staff’, or short term alternative finance fund. LGIM›s head of private credit Nick Bamber spoke to Investment Officer.
Fuchs & Associés fined again, for money laundering, tax fraud
Less than a week before announcing the sale - in September last year - of its asset management services arm, Luxembourg’s troubled investment firm Fuchs & Associés Finance - still in liquidation - was fined €785,000 by the Grand Duchy’s financial supervisor CSSF under laws on the fight against money laundering and terrorist financing.
Hamilton Lane fund goes digital with Apex’s blockchain solution
Apex Group on Wednesday claimed to have become the first fund administrator to utilise blockchain technology as a book of record. It will leverage blockchain technology to service the 3.7 billion euro Hamilton Lane Global Private Assets fund.
LGIM uses Lux Raif umbrella fund to sell unlisted debt
Legal & General Investment Management (LGIM) on Wednesday has announced that it has launched of its Short-Term Alternative Finance Fund under its newly created umbrella fund platform leveraging the Luxembourg regime for Reserved Alternative Investment Funds, or Raifs. The move comes in response to growing investor demand for such credit strategies, the firm said.
Waystone to provide ManCo services to Alger Management
Waystone Luxembourg on Tuesday said it will provide single-umbrella ManCo and related services to US-based Fred Alger Management’s SICAV range.
The partnership will add 600 million US dollars to Waystone’s AuM, raising it to 2,000 million US dollars and is part of the firm’s international expansion effort in recent years.
CSSF fines Intertrust €162,500 for not sticking to custodian duties
The Commission de Surveillance du Secteur Financier (CSSF) has imposed a fine of 162,500 euro on Intertrust (Luxembourg) S.à r.l., a specialist in the professional financial sector, for not adhering to its custodial duties as outlined in Luxembourg’s financial sector legislation, particularly concerning the management of non-financial assets.
UI Group takes helm of Carnegie’s Sicav funds portfolio
Sweden-based Carnegie Fonder, an independent asset management stalwart, has ushered in Universal Investment Group as the new management company for its Luxembourg-based Ucits Sicav fund range. The announcement marks a significant phase in the operations of Carnegie Fonder, a venerable entity within the Carnegie Group with a history spanning over two centuries.
Luxembourg holds up well in difficult year for Partners Group
Luxembourg’s private equity services business of Partners Group, which accounts for more than a third of its revenue, held up well last year in what otherwise was a challenging year for the Swiss-based firm.
Partners Group on Tuesday reported that its revenue from management services in Luxembourg rose 2.3 percent last year to 684.5 million Swiss francs (710 million euro).