Outsourced investment office Partners Capital has appointed FundRock Management Company to provide management company (ManCo) services to its flagship fund.
FundRock offers third-party ManCo services and, as an Apex subsidiary, also provides fund administration, depository and custody services.
The partnership will allow Partners Capital to improve cost efficiency and streamline operations, Apex says.
The announcement continues an existing partnership between the two companies, with FundRock supporting the fund’s redomiciliation to Luxembourg last year.
Romain Denis, managing director of FundRock, says: “This latest mandate win for FundRock in Luxembourg follows a wider trend of funds seeking to partner with established third-party management companies to efficiently access European investors. We look forward to continuing our work with Partners Capital, offering substance and technology to deliver efficiencies and support their requirements.”
Toby Seth, partner and global chief financial officer at Partners Capital, comments: “We carefully reviewed our options to further boost the distribution reach of our flagship fund, with moving the fund to Luxembourg quickly and efficiently identified the best way to do so. Both Apex Group and FundRock teams have provided support to guide and de-risk the migration of the fund, which we executed in record time.”
