Key Takeaways
- • BNP Paribas Securities Services launched an enhanced administration service for onshore and offshore private equity and real estate funds, announced October 4, 2010.
- • The platform targets multi-jurisdictional, direct and indirect fund structures, with dedicated operational teams providing transfer agency, fund administration and custody monitoring.
- • The service bundles accounting, investor and regulatory reporting into a single middle- and back-office offering, which the bank describes as the first truly integrated suite of its kind for both onshore and offshore funds.
- • Maria Cantillon, head of alternative investment managers at BNP Paribas Securities Services, framed the launch as a response to rising demand for servicing more complex fund structures.
Summary
BNP Paribas Securities Services announced the launch of an enhanced service for onshore and offshore private equity and real estate funds. The bank said the offering responds to the growing sophistication of multi-jurisdictional private equity and real estate vehicles, including both direct and indirect structures and funds with entities spread across several jurisdictions.
The bank has implemented a dedicated platform for funds domiciled onshore and offshore. Dedicated operational teams provide transfer agency, fund administration and custody monitoring, alongside a comprehensive suite of accounting, investor and regulatory reports. According to the announcement, these capabilities are designed to give clients visibility across the entire fund structure.
Maria Cantillon, head of alternative investment managers at BNP Paribas Securities Services, said the bank was responding to demand for servicing increasingly complex private equity and real estate fund structures. She described the infrastructure and operational teams as the first to deliver a truly integrated suite of middle and back office services for both onshore and offshore funds, adding that clients benefit from high levels of risk management, compliance controls and financial reporting.
BNP Paribas Securities Services is a wholly owned subsidiary of BNP Paribas Group. The announcement cites USD 5,453 billion in assets under custody, USD 920 billion in assets under administration and over 6,000 funds administered as of June 30, 2010, and describes the unit as Europe's leading securities services provider and the world's number five. The bank has a local presence in 32 countries and covers more than 100 markets.
The bank has implemented a dedicated platform for funds domiciled onshore and offshore. Dedicated operational teams provide transfer agency, fund administration and custody monitoring, alongside a comprehensive suite of accounting, investor and regulatory reports. According to the announcement, these capabilities are designed to give clients visibility across the entire fund structure.
Maria Cantillon, head of alternative investment managers at BNP Paribas Securities Services, said the bank was responding to demand for servicing increasingly complex private equity and real estate fund structures. She described the infrastructure and operational teams as the first to deliver a truly integrated suite of middle and back office services for both onshore and offshore funds, adding that clients benefit from high levels of risk management, compliance controls and financial reporting.
BNP Paribas Securities Services is a wholly owned subsidiary of BNP Paribas Group. The announcement cites USD 5,453 billion in assets under custody, USD 920 billion in assets under administration and over 6,000 funds administered as of June 30, 2010, and describes the unit as Europe's leading securities services provider and the world's number five. The bank has a local presence in 32 countries and covers more than 100 markets.
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