Latest news with #fundadministration
Malay Mail
23-05-2025
- Business
- Malay Mail
Carta receives Financial Services Permission from ADGM's Financial Services Regulatory Authority, unlocking new phase of growth in MENA's Venture Capital and Private Equity Ecosystem
Carta and ADGM representatives at Abu Dhabi Finance Week 2024 RIYADH, SAUDI ARABIA - Media OutReach Newswire - 23 May 2025 - Carta , the software platform purpose-built for private capital, today announced its Financial Services Permission (FSP) from ADGM's Financial Services Authority (FSRA), unlocking a new phase of growth in Middle East and North Africa (MENA). This milestone significantly advances Carta's global mission to make private markets more accessible, transparent, and equitable. As the world's largest fund administrator for venture capital, Carta will support the private market ecosystem in the MENA region with its end-to-end software platform for fund operations, in addition to its cap table and equity management solutions for Dhabi, renowned as the "capital of capital," has shown exceptional growth in the financial services sector. Carta's expansion comes as the UAE establishes itself as a key player in the Middle East, constituting 40% of all funding rounds in the region—a 9% year-on-year increase—according to industry reports . In 2024, assets under management (AUM) within ADGM grew by 245%, with 134 fund and asset managers operating 166 funds by the end of has strategically chosen ADGM as the location for its new Middle Eastern office, strengthening the company's commitment to aligning with regions that demonstrate significant market potential and robust economic policies. Located at Hub71 WeWork, in the heart of the financial district, Carta's new office serves as a strategic base for expanding sales and marketing efforts in the MENA region, a region the company sees as highly promising."The Middle East is the perfect place for Carta expansion," said Bhavik Vashi, Managing Director of Carta APAC & MENA. "The regulatory framework in ADGM is one of the most progressive we've seen globally–exactly the type of environment needed to fuel the private markets, which is why we have made a big bet here."Over the past two years, Carta has been laying the groundwork for its expansion by engaging in conversations with key government-linked institutions, such as ADGM, the Financial Services Regulatory Authority (FSRA), the Abu Dhabi Investment Office (ADIO), and the Abu Dhabi Department of Economic Development (ADDED). These discussions have surfaced ongoing private equity needs that Carta is equipped to solve, offering MENA funds a comprehensive suite of software and services, including quarterly reporting, compliance services, and end-of-year tax and audit Ramamurthy, Chief of Market Development Officer at ADGM said; "We congratulate Carta on receiving their FSP from ADGM. We are thrilled to welcome them to ADGM's dynamic ecosystem, where innovation, growth, and opportunity thrive. Your presence enriches Abu Dhabi's financial landscape, and we look forward to supporting your success in this vibrant and forward-thinking community."Carta currently supports a number of prominent regional customers, including Global Ventures, BECO Capital, Cotu Ventures, Outliers VC, Dubai Future District Fund, and Middle East-based unicorns Foodics and Kitopi. With ADGM license approval, Carta will continue to collaborate with the local VC & PE ecosystem to further enhance the company's service offerings and deliver greater value for the Middle East's growing private #Carta The issuer is solely responsible for the content of this announcement. About Carta Carta connects founders, investors, and limited partners through world-class software purpose-built for everyone in venture capital and private equity. Carta's world-class fund administration platform supports nearly 9,000 funds and SPVs representing over $188B in assets under administration on fund administration, SPV formation, and more. Trusted by more than 50,000 companies, Carta helps private businesses in over 160 countries manage their cap tables, valuations, taxes, equity programs, compensation, and more. Carta has been included on the Fortune Best Large Workplaces in Financial Services and Insurance list, Forbes' list of the World's Best Cloud Companies, Fast Company's Most Innovative list, and Inc.'s Fastest-Growing Private Companies list. For more information, visit DISCLOSURE: This communication is on behalf of eShares, Inc. dba Carta, Inc. ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. ©2025 Carta. All rights reserved. Reproduction prohibited. Regulated by the Financial Services Regulatory Authority.
Zawya
23-05-2025
- Business
- Zawya
Carta receives Financial Services Permission from ADGM's Financial Services Regulatory Authority, unlocking new phase of growth in MENA's Venture Capital and Private Equity Ecosystem
RIYADH, SAUDI ARABIA - Media OutReach Newswire - 23 May 2025 - Carta, the software platform purpose-built for private capital, today announced its Financial Services Permission (FSP) from ADGM's Financial Services Authority (FSRA), unlocking a new phase of growth in Middle East and North Africa (MENA). This milestone significantly advances Carta's global mission to make private markets more accessible, transparent, and equitable. As the world's largest fund administrator for venture capital, Carta will support the private market ecosystem in the MENA region with its end-to-end software platform for fund operations, in addition to its cap table and equity management solutions for startups. Abu Dhabi, renowned as the "capital of capital," has shown exceptional growth in the financial services sector. Carta's expansion comes as the UAE establishes itself as a key player in the Middle East, constituting 40% of all funding rounds in the region—a 9% year-on-year increase—according to industry reports. In 2024, assets under management (AUM) within ADGM grew by 245%, with 134 fund and asset managers operating 166 funds by the end of 2024. Carta has strategically chosen ADGM as the location for its new Middle Eastern office, strengthening the company's commitment to aligning with regions that demonstrate significant market potential and robust economic policies. Located at Hub71 WeWork, in the heart of the financial district, Carta's new office serves as a strategic base for expanding sales and marketing efforts in the MENA region, a region the company sees as highly promising. "The Middle East is the perfect place for Carta expansion," said Bhavik Vashi, Managing Director of Carta APAC & MENA. "The regulatory framework in ADGM is one of the most progressive we've seen globally–exactly the type of environment needed to fuel the private markets, which is why we have made a big bet here." Over the past two years, Carta has been laying the groundwork for its expansion by engaging in conversations with key government-linked institutions, such as ADGM, the Financial Services Regulatory Authority (FSRA), the Abu Dhabi Investment Office (ADIO), and the Abu Dhabi Department of Economic Development (ADDED). These discussions have surfaced ongoing private equity needs that Carta is equipped to solve, offering MENA funds a comprehensive suite of software and services, including quarterly reporting, compliance services, and end-of-year tax and audit readiness. Arvind Ramamurthy, Chief of Market Development Officer at ADGM said; "We congratulate Carta on receiving their FSP from ADGM. We are thrilled to welcome them to ADGM's dynamic ecosystem, where innovation, growth, and opportunity thrive. Your presence enriches Abu Dhabi's financial landscape, and we look forward to supporting your success in this vibrant and forward-thinking community." Carta currently supports a number of prominent regional customers, including Global Ventures, BECO Capital, Cotu Ventures, Outliers VC, Dubai Future District Fund, and Middle East-based unicorns Foodics and Kitopi. With ADGM license approval, Carta will continue to collaborate with the local VC & PE ecosystem to further enhance the company's service offerings and deliver greater value for the Middle East's growing private markets. Hashtag: #Carta The issuer is solely responsible for the content of this announcement. About Carta Carta connects founders, investors, and limited partners through world-class software purpose-built for everyone in venture capital and private equity. Carta's world-class fund administration platform supports nearly 9,000 funds and SPVs representing over $188B in assets under administration on fund administration, SPV formation, and more. Trusted by more than 50,000 companies, Carta helps private businesses in over 160 countries manage their cap tables, valuations, taxes, equity programs, compensation, and more. Carta has been included on the Fortune Best Large Workplaces in Financial Services and Insurance list, Forbes' list of the World's Best Cloud Companies, Fast Company's Most Innovative list, and Inc.'s Fastest-Growing Private Companies list. For more information, visit DISCLOSURE: This communication is on behalf of eShares, Inc. dba Carta, Inc. ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. ©2025 Carta. All rights reserved. Reproduction prohibited. Regulated by the Financial Services Regulatory Authority. Carta
Yahoo
08-05-2025
- Business
- Yahoo
Partners Group Selects Northern Trust to Support its Private Credit-Focused Long Term Asset Fund (LTAF)
Providing Fund Administration, Depositary and Banking Services for Partners Group's First LTAF LONDON, May 08, 2025--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announces that it is providing Partners Group (SIX Swiss Exchange: PGHN) with fund administration, depositary, and banking services for its first LTAF, launched in April 2025. Founded in 1996 and based in Switzerland, Partners Group is one of the largest firms in the private markets industry with over US$150 billion of assets under management (as of 31 December 2024). It seeks to generate strong returns by identifying attractive investment themes and transforming businesses and assets into market leaders. The firm's investment programs and custom mandates span private equity, private credit, infrastructure, real estate, and royalties. Its new LTAF, the Partners Group Generations Private Credit LTAF, focuses on providing defined contribution (DC) pension funds and other professional investors with access to a diverse range of private credit investment opportunities. The United Kingdom (UK)'s LTAF regime came into existence in 2021, followed in 2023 by new rules widening its availability to provide a broad range of investors with increased access to private markets. Northern Trust also supported the launch of Partners Group's European Long Term Investment Fund (ELTIF)-compliant Private Equity ELTIF Evergreen Fund in 2024. Laurence Everitt, head of Global Fund Services, UK, at Northern Trust, said. "We are delighted to develop our relationship with Partners Group by supporting its first LTAF. At Northern Trust we continue to see significant interest in use of this UK vehicle for distributing investment strategies and have the operating model and servicing expertise – across illiquid, semi-liquid and traditional assets – to support asset managers as they expand their offering for investors." Northern Trust provides a complete set of services including fund administration, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Associated Press
07-05-2025
- Business
- Associated Press
Coinbase AM Selects Apex Group to Provide Digital Fund Administration Services Amid Surge in Digital Asset Adoption
New York, New York--(Newsfile Corp. - May 7, 2025) - Apex Group, the leading global financial services provider, has announced it has been selected by Coinbase Asset Management (Coinbase AM) 1 to provide fund administration services, which will be delivered by Apex Malta, specifically tailored for digital asset strategies and its newly announced Coinbase Bitcoin Yield Fund (CBYF). This mandate further strengthens Apex Group's strategic alliance with Coinbase AM and reflects the growing institutional adoption of digital assets, driven by the increasing demand for innovative yield-generating projects like CBYF. It also aligns with the broader trend of institutional investors seeking secure, reliable solutions to integrate digital assets into their portfolios amidst heightened regulatory standards and evolving market dynamics. Peter Hughes Apex Group's Founder and CEO, says: 'We're extremely pleased to strengthen our alliance with Coinbase AM to support the launch of CBYF this month. This fund further expands global access to meet the growing demand for bitcoin yield. 'Apex Group has ten years of expertise in crypto fund administration and is committed to innovation. We also have the ability to deliver secure, reliable and scalable solutions and pride ourselves on our capacity to handle the complexities of digital asset fund administration transfer agency and distribution while adhering to fiduciary standards.' Matt Lundy, Coinbase AM's COO and CRO, says: 'The recent launch of the Coinbase Bitcoin Yield Fund has been met with incredible demand from institutional investors looking to earn yield on their Bitcoin holdings. Apex Group's experience in the digital asset space and innovative thinking have allowed us to seamlessly deliver this unique international, institutional-grade Fund with Apex Group's best-in-class administrator services to investors. We are thrilled to continue to build on our relationship with Apex Group.' Aspen Digital, an FSRA-regulated digital asset manager, also played a significant role by seeding the fund and serving as an exclusive wealth-distribution partner in the UAE and Asia. -ends- Newsroom Chanel Townsend | Head of media relations [email protected] | +447391046830 Notes to editors About Apex Group Apex Group is dedicated to driving positive change in financial services while supporting the growth and ambitions of asset managers, allocators, financial institutions, and family offices. Established in Bermuda in 2003, the Group has continually disrupted the industry through its investment in innovation and talent. Today, Apex Group sets the pace in fund and asset servicing and stands out for its unique single-source solution and unified cross asset-class platform which supports the entire value chain, harnesses leading innovative technology, and benefits from cross-jurisdictional expertise delivered by a long-standing management team and over 13,000 highly integrated professionals. Apex Group leads the industry with a broad and unmatched range of services, including capital raising, business and corporate management, fund and investor administration, portfolio and investment administration, ESG, capital markets and transactions support. These services are tailored to each client and are delivered both at the Group level and via specialist subsidiary brands. The Apex Foundation, a not-for-profit entity, is the Group's passionate commitment to empower sustainable change. 1 Coinbase Asset Management LLC and CBAM (Cayman) Ltd. SECZ, both entities are collectively referred to as Coinbase Asset Management To view the source version of this press release, please visit
