Mainspring Fund Services and Aspida Group have announced a partnership agreement, to provide Guernsey-domiciled private equity and venture capital funds with fund administration, compliance, governance and reporting solutions.
The firms have confirmed their first launch – a $550 million 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 it is hoped that fund managers will benefit from the 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 £2 bilion, across multiple alternative asset classes.
Mainspring delivers fund administration services to over 70 clients, with more than £5 billion of assets under administration. London-based Mainspring employs software and reporting systems to underpin an innovative and highly personal service.
Under the partnership, Aspida will provide fund managers with a suite of corporate and regulatory services, delegating all fund accounting, administration and reporting to Mainspring.
Commenting on the agreement, Stephen Geddes, CEO at Mainspring said, “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.”
Wayne Bulpitt, co-chairman at Aspida, added that Mainspring, “has proven administration expertise across multiple fund structures and an outstanding technology platform. Together with our focus on client service, we look forward to developing the partnership further.”