Two Apex employees split to form Tower Fund Services
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Two Apex employees split to form Tower Fund Services 08 January 2013New Jersey Reporter: Georgina Lavers
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The former managing director and director of operations for Apex Fund Services have left the firm to start their own fund administration business.
Tower Fund Services, which is co-run by Vince Sarullo and Kinjal Amin, will cater for alternative investment managers, providing solutions for hedge funds, funds of funds, multi-manager platforms, private equity, venture capital and real estate funds. Its suite of services includes fund startup, accounting, valuation, reporting and tax services.
Co-founder and managing director Sarullo said: “No-one in the investment management industry needs reminding that there has never been greater external pressure being placed upon it. Fund managers in all asset classes face an enormous challenge to keep up to date with the wave of local, regional and global legal and regulatory requirements that have been imposed since the international financial crisis, in addition to traditional anti-money-laundering and know your client regulations. Nor does anyone need reminding that the pressure shows no signs of abating any time soon.”
Co-founder and managing director Amin added: “But they do need to be reassured that there are tried and trusted alternative methods of ensuring that their fund administration needs are met, and that they and their operations are at all times compliant, in a cost- and time-effective manner. By enabling this, Tower Fund Services liberates them to focus exclusively on their core, revenue-generating business: investing.”
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