The Maples Group has been selected by Indo-Japan Emerging Technology & Innovation Fund to provide legal and fund administration services in a private equity unit trust.
The firm provides a range of legal, fund, regulatory and management services, which are expected to aid the Fund in its offering.
The fund will invest the majority of its assets into the alternative investment fund of funds (FoF), which is currently managed by Reliance Nippon Life Asset Management (RNAM) and is worth approximately $187 million.
The FoF, announced at the G-20 summit last week, was created in the partnership between the Japanese Ministry of Economy, Trade and Industry and the Indian Ministry of Commerce and Industry.
The fund aims to “combine the core strengths” of Japan and India to develop technology for large investor firms, such as artificial intelligence, machine learning, fintech and the internet of things.
Nick Harrold, partner, Hong Kong, Maples Group, commented: “The launch of the Fund is reflective of a progressive trend in the market whereby an increasing number of Japanese institutional investors are seeking exposure to alternative investments, typically through the private equity unit trust structure.”
He continued: “The Fund represents an important evolution in the structure as it is able to accommodate a large number of investors and multiple closings. This additional flexibility is likely to mean that alternative investments will become even more accessible to Japanese institutional investors.”
