Indea Capital Partners appoints BNP Paribas Securities Services for Singapore VCC mandate
Latest news
Indea Capital Partners appoints BNP Paribas Securities Services for Singapore VCC mandate 10 November 2021Singapore Reporter: Jenna Lomax
Image: anekoho
Indea Capital Partners has appointed BNP Paribas Securities Services to provide custody services to its sub-fund set-up under Singapore’s new Variable Capital Company (VCC) structure.
Indea Capital Partners Private Limited is a Singapore-registered fund manager focused on advising clients on their alternatives investments.
As well as custody services, BNP Paribas Securities Services will provide Indea Capital Partners with a range of global hedge fund administration, investor services and financial reporting for its VCC sub-fund.
The bank will also provide Indea Capital Partners with trade execution services.
Indea Capital Partners’ first sub-fund has a projected US$250 million of assets under management and was launched under the Singapore VCC structure.
The VCC corporate structure for investment funds, launched by the Monetary Authority of Singapore in 2020, is designed to strengthen Singapore’s status as a regional fund distribution hub.
Hiral Patel, fund manager and director of Indea Growth Partners, VCC, says: “BNP Paribas Securities Services helped us set up our first sub-fund using the Singapore VCC. We are delighted to be working with BNP Paribas Securities Services’ teams whom we selected for their knowledge of the VCC scheme and local expertise in Singapore and India.”
Diana Senanayake, head of BNP Paribas Securities Services Singapore, comments: “We are delighted to support Indea Capital Partners in launching this new fund, and help them take advantage of the VCC fund structure. We have developed a strong expertise in this structure.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: anekoho 