Maples Group Recognised for Excellence in Private Equity and Hedge Fund Administration
10 Dec 2020
Nominations and awards are based on performance in Global Custodian's annual industry surveys which solicit feedback from clients across a number of categories - including client service, reporting and technology.
The alternative investment fund industry has undergone a significant transformation in recent years and managers and investors are under more pressure than ever as a result of the current environment. The role of a service provider has similarly evolved and fund administrators are now in a position to provide the cutting edge solutions and vital support that underpin efficient fund operations.
With respect to private equity technology, the Maples Group has leveraged its expertise in operations, compliance and technology to develop a proprietary database and workflow solution to maintain "know your client" ("KYC") information for 20,000+ investors in private asset funds. This system is being used by the Group's centralised anti-money laundering ("AML") team to ensure that funds are in compliance with their regulatory obligations.
The Maples Group's middle-office service offering has benefited from several upgrades to the Group's global technology platform in 2020. New solutions introduced include:
IHS Markit loan data integration, which automates security master and pricing data updates for credit hedge fund holdings;
Fund Recs' Velocity platform to enhance automated reconciliations, including unstructured data in PDF documents; and
AQMetrics' reporting platform, which streamlines the submission of regulatory reports (e.g. AIFMD Annex IV) for managers.
"Fund managers are looking to rationalise the number of service provider relationships that they have so the more you can offer, the better," said Tyler Kim, Global Head of Fund Services. "Private equity managers want to ensure you can not only administer their funds but also help with entity formation and management of downstream SPVs for doing deals. Global players want multi-jurisdictional support and it creates scale and efficiency when there is range of services under one roof."
"At the same time, middle-office services have become increasingly important," he added. "Investment managers are viewing fund administrators as an extension of their teams that transcend the provision of service to just fund vehicles. It helps when you can offer an institutional-grade infrastructure that supplements their investment operations."
Global Head of Fund Services Montreal
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