Mainspring Fund Services and Aspida Group have partnered to provide Guernsey-domiciled private equity and venture capital funds with a comprehensive solution for fund administration, compliance, governance and reporting.
At the same time, the partner firms confirmed their very first launch – a $550m Private Investor Fund. The Guernsey-domiciled Fund, which has completed its first close, is run with a global mindset, investing in growth-stage technology companies across Europe, Asia and North America. The Fund is structured with a dedicated feeder for employees, advisers and affiliates.
Through the partnership, fund managers will benefit from the focused, specialist services of Aspida for governance, economic substance and regulatory compliance, and Mainspring for fund administration.
Aspida is an established Guernsey-based provider of solutions to alternative fund managers. Its clients manage assets of more than GBP2 billion, across multiple alternative asset classes.
Mainspring delivers high quality fund administration services to over 70 clients, with more than GBP5 billion of assets under administration. London-based Mainspring employs state of the art software and reporting systems to underpin an innovative and highly personal service.
Under the partnership, Aspida will provide fund managers with a comprehensive suite of corporate and regulatory services, delegating all fund accounting, administration and reporting to Mainspring.
Commenting on the agreement, Stephen Geddes, CEO at Mainspring, says: “We are delighted to have formed a partnership with Aspida, one of the most respected specialist providers of business support services and fund governance solutions in Guernsey, to provide our existing clients, as well as new clients, with the optimal solution for servicing a Guernsey-domiciled fund.”