Administration d’actifs

Apex Group on Thursday said it is  poised for expansion after having secured 400 million dollar in term debt, aiming to boost liquidity and further organic and inorganic growth. The firm, financially backed by a group of four venture capital firms, is known to be vying for an initial public offering some time in the coming years.

Depositary banks, including some at Caceis, have been grappling with dissatisfaction for years due to the ever-complicating «settlement machinery» requiring constant fine-tuning. «With each legislative tightening, our processes must adapt,» state Rinke Visser and Sikko van Katwijk from Caceis Netherlands.

Francesca McDonagh will join Frankfurt-headquartered Universal Investment Group as its new group chief executive officer from January, the firm has announced. McDonagh, 48, previously served as group chief operating officer at Credit Suisse and CEO at Bank of Ireland.

With 29 new funds registered, last month was the best September in three years for new Raifs issuance, data analysis by Investment Officer Luxembourg shows. Raifs are Reserved Alternative Investment Funds. In Luxembourg these vehicles in recent years have gained significant international traction among those active in private assets such as credit, real estate and private equity.

The Luxembourg government, represented by prime minister Xavier Bettel and finance minister Yuriko Backes, on Tuesday officially inaugurated Bank of America’s new branch in Luxembourg. The office was already opened on 10 May.

Universal Investment Group on Wednesday announced the launch of a new Luxembourg-based joint venture together with investment advisory  Alumia, a MiFID regulated investment advisory firm providing clients with access to innovative investment strategies.

In this IO Talks podcast interview, Peter Hughes, CEO and founder of Apex Group, and Pierre Weimerskirch, the firm’s Luxembourg head, discussed strategic ambitions in Luxembourg, highlighting the region’s increasing dominance in the global investment landscape.

Blackstone, the world’s largest alternative asset manager, has transitioned its Luxembourg offices to a more expansive space in the Vertigo Polaris Building, demonstrating a solid commitment to its European operations in the Grand Duchy. The inauguration of the new location was marked by a special event on Wednesday, graced by the presence of Luxembourg’s Prime Minister, Xavier Bettel, and Blackstone’s CFO, Michael Chae.

Luxembourg-based fund services firm Fuchs Asset Management, which saw its parent company enter liquidation in July, is embarking on a new chapter through a strategic partnership with Trustmoore, a fund services company headquartered in Amsterdam.

This week’s overview of transfers and appointments includes appointments at Apex Group and at EY.

Stephen Geddes

Stephen Geddes (photo) has been appointed as regional head for the United Kingdom at global asset services provider Apex Group.  He joined Apex from Mainspring Fund Services, where he was the founder and CEO. Apex acquired Mainspring in September last year.