Launch of Alter Domus in Boston
Additional UK-based Credit-Vision Acquisition Strengthens Global Private Debt Administration Capabilities
Alter Domus, a leading provider of integrated solutions to the alternative investment industry, today announced the acquisition of IPS Fund Services, a Boston-based fund administrator serving private equity and investment funds. capital risk. The strategic acquisition is an important step in Alter Domus’ growth strategy in North America and further strengthens its footprint on the east coast.
IPS Fund Services, with $ 9 billion in assets under administration, will join Alter Domus’ global team of more than 1,000 private equity professionals to collaborate across regions and support clients. IPS Fund Services has extensive experience in multi-jurisdictional funds with specific asset class expertise and a solid understanding of evolving regulatory compliance and reporting standards.
Private market asset managers in North America continue to demand outsourced fund administration solutions with services spanning the entire fund management value chain and multi-jurisdictional expertise. In addition to the acquisition of IPS Fund Services, Alter Domus has invested heavily in its capabilities in the region, creating new services, technologies and expertise to support its growth ambitions in the United States. In 2020 alone, Alter Domus increased its workforce in North America from 586 to 656 people and now has 10 offices in the region.
The acquisition will expand Alter Domus’ presence in the United States from Chicago – where the company has a solid track record as a leading provider of debt servicing capabilities – to Boston, a major hub for the U.S. capital industry. -investment and housing a diversified fund administration pool. Talent. All IPS Fund Services employees will join Alter Domus and report to Paul Woods, Regional Executive North America.
“This is a tremendous opportunity for IPS and our employees, and we are delighted to provide our clients with a global and vertically integrated suite of fund administration services, technology and expertise.” said Rob Herlihy, partner and founder of IPS Fund Services. “As Alter Domus, our team – including my co-founders John Dafulas and Ed Conway – will continue to provide the highest quality services for which we have long been known. We look forward to working alongside Doug. , Paul and the Alter Domus team maximizing opportunities for our clients in the United States. “
Paul Woods, Regional Director North America, said: “We are delighted to welcome the IPS team to Alter Domus and to consolidate our presence in Boston. True to our commitment to go where customers need us, this is a major step in our long-term strategy to grow our presence in North America. IPS shares the same concern for quality and customer service which have both been at the heart of Alter Domus’ success over the years. With this acquisition, IPS customers will now have access to the unparalleled expertise of our 2,700 employees around the world who not only specialize in private equity, but also bring cutting-edge expertise to the global markets. real estate and private debt. “
Doug Hart, CEO of Alter Domus, said: “With the acquisition of IPS Fund Services, we are further strengthening our presence in North America, significantly increasing our scale and capabilities with an enhanced offering for local and global clients. Additionally, IPS’s sophisticated customer base will benefit from access to our world-class technology. solutions, which provide cutting-edge asset management capabilities and data tools specifically designed for private equity investors. “
Alter Domus is backed by global investment firm Permira. In 2018, Alter Domus acquired Cortland Capital Markets Services LLC, a leading US-based investment services firm. The firm’s presence in North America was further strengthened in 2020 with the opening of its office in the Cayman Islands.
In addition, Alter Domus also announced the acquisition of the British technology platform Credit-Vision Limited on Monday, December 21. The online middle and front office technology platform provides portfolio management and financial analysis to private debt investors and participants in debt capital markets. The acquisition strengthens Alter Domus’ comprehensive data and technology offering to alternative credit managers.
About Alter Domus
Alter Domus is one of the leading providers of integrated solutions for the alternative investment industry. Thanks to vertical integration, dedicated teams provide support and tailor-made solutions across all value chains. By tapping into a talent pool of some 2,700 employees in 34 offices in 20 jurisdictions, our expertise and cutting-edge technology combine to give clients a head start.
With an established professional specialization in the private equity, infrastructure, real estate and debt capital markets sectors, we provide fund administration, business services, custodian services, transfer, domiciliation and management company prices. Our specific experience in the debt capital markets industry enables us to provide specialized solutions such as loan administration, agency services, transaction settlement and CLO management services.
Alter Domus is proud to serve 14 of the 20 largest private equity firms, 18 of the 20 largest real estate companies and 15 of the 20 largest private debt managers in the world, and manages a total of $ 930 billion in assets under administration on behalf of alternative investments. managers. For more information, please visit: www.alterDomus.com
About IPS Fund Services LLC
Founded in 2001, IPS Fund Services LLC (IPS) is an independent fund administrator serving private equity and venture capital funds. Based in Boston, IPS provides comprehensive and customized back office solutions that relieve fund managers of the administrative burden associated with funds. With significant experience in handling complex funds and in-depth knowledge of state-of-the-art systems and online reporting portals, IPS serves as an extension to client staff by providing transparent and reliable administrative support.
For more information, please visit: www.ipsfundservices.com
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Patrick Gritti, Global Head of Marketing and Communications
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