Dublin, 17th April 2019
Since launching its Private Equity Service three years ago, Centaur Fund Services has experienced significant growth. The sector is set to be a major driver of business growth for the firm in 2019 and beyond. In the last twelve months alone, Centaur has hired senior managers in Private Equity (PE) out of New Jersey, Bermuda and Europe. The company has also invested heavily in PE specific technology which has been developed specifically to support Centaur Private Equity clients.
Investments in Private Equity funds continue to rise and rise. According to eInvestment’s2018 Alternative Fund Administration Survey, assets in private equity, real estate, hedge funds, fund of funds and liquid alternatives totaled $8.42 trillion in 2017. Of this total, it is estimated that Private Equity accounts for almost 20%. This year, not only is the industry positioned for further growth, but the number of Private Equity funds moving towards outsourcing their administration operations is also growing as a result of increased regulatory pressures and more complex investment strategies.
Centaur is well positioned to meet the growing requirements resulting from the various investment strategies that PE funds deploy today and outlines key developments:
INVESTMENT IN TECHNOLOGY
Centaur has invested heavily in the team and technology to support Centaur Private Equity and Real Estate (PERE). Centaur can now offer its clients a dedicated platform for PERE servicing, including FIS Investran for accounting and investor services and Blueprint for corporate services including a portal to enhance the client experience.
Des Johnson, CEO of Centaur Fund Services U.S. said “Last year, we invested heavily in our Private Equity and Real Estate (“PERE”) platform which delivers open, transparent, customizable reporting, based on client requirements. We believe that the future of PE fund administration is a combination of outstanding people along with best in class technology and we are wholly committed to ensuring our clients receive the best the industry has to offer.”
GLOBAL PRESENCE IN PLACE
Centaur has gained deep sector knowledge in Private Equity and Real Estate with dedicated personnel joining the firm in North America and Europe. 2018 saw new senior management appointments in New Jersey, Bermuda and Ireland along with the opening of Centaur Luxembourg. As a result, Centaur has seen a major expansion in their PE business with the on-boarding of funds in each of these locations.
Des commented, “We’re delighted to welcome our new senior management appointments in the North America and Europe. These industry experts head up dedicated teams that provide administration services to our PE clients, ensuring a smooth process from onboarding to fund administration.”Click here to see why Sentient Equity Partners chose Centaur Private Equity to administer its funds.
HYBRID ADMINISTRATION ON THE RISE
Recent years has seen the rise of the hybrid fund, which display features of both hedge funds and private equity funds. This trend has dramatically accelerated as investors seek to deploy capital in strategies such as credit and loan origination which are well suited to closed end structures, but which display hedge fund features such as mark to market valuations and securities trading.
Rather than supplying a suite of individual products, Centaur acts as a single source that delivers overall administration solutions to our clients, covering both hedge funds and private equity funds.
Des said, “We are excited to be part of this evolving sector. Our technology and dedicated hybrid teams offer an enhanced platform for hybrid and loan funds. As a result, we have attracted a number of credit and loan focused funds in the US and Europe driven by the increasing demand for administrators to deliver a hybrid solution that incorporates elements of both private equity and hedge funds.”
Des concludes, “Centaur’s commitment to service excellence and our continuous investment in technology have ensured that we maintain a 100% client retention rate since our inception ten years ago. We are delighted that our Private Equity service is growing so rapidly and are fully committed to ensuring we maintain the best retention rate in the industry by always putting our clients first.”