INDOS Financial (Ireland) Depositary Limited, a JTC Group company, is pleased to announce it has received regulatory approval from the Central Bank of Ireland to provide depositary services to private equity, real estate and other alternative investment funds under Regulation 22(3)(b) of Ireland’s AIFM Regulations.
The approval builds upon INDOS’ leading alternative investment fund depositary offering in the UK providing full depositary and depositary-lite services to 75 managers, 150 funds and $38bn of hedge, private equity, real estate and infrastructure funds.
Bill Prew, CEO of the INDOS Financial Group commented “We are delighted to have obtained a specialised depositary licence in Ireland. We established operations in Co. Wexford, Ireland in 2014 and therefore, extending our services to act for Irish alternative investment funds was a natural next step”
Bill continued “We are starting to see a number of managers establish private equity, real estate and other alternative asset funds in Ireland following the introduction of the Investment Limited Partnerships Act in 2020. We are excited to bring the INDOS depositary model, where we provide a depositary solution that adds value and enhances fund governance, to this growth area of the Irish funds market”
The Irish office of Simmons & Simmons advised INDOS Financial on the licensing and approval process with the Central Bank of Ireland.
Contacts for further information:
Bill Prew, CEO, INDOS Financial +44 (0) 203 876 2220
Simon Rostron, Rostron Parry +44 (0) 7802 292 252
About INDOS Financial (www.indosgroup.com)
Founded in 2012, INDOS has grown to become recognised as a provider of industry-leading solutions within the fund oversight and depositary service space. As of September 2021, client assets under depositary oversight had grown past $38 billion and a further $11bn which form part of INDOS AML (Anti-Money Laundering) officer services. In June 2021, INDOS was acquired by JTC Group.
About JTC Group (www.jtcgroup.com)
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all of our stakeholders. Our purpose is to maximise potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.