IQ-EQ expands global funds division into Ireland
New appointments and a team transition for IQ-EQ as it sets up an Irish funds business.
March 2, 2021 10:11 AM GMT
Fund administration provider IQ-EQ has announced plans to launch a dedicated funds business in Ireland, as the country becomes an increasingly popular European fund domicile.
Ireland has benefited as a fund centre from Britain leaving the EU last year, while the recent changes to the Irish Investment Limited Partnership (ILP) legislation are set to appeal to more private capital funds.
In light of these changes, IQ-EQ has bolstered its presence in the country, including transferring several key personnel from its wider UK & Ireland cluster, with Belfast-based Eoghan Harney taking on the role of director and head of fund accounting.
IQ-EQ wins administration mandate from Belfast-based private equity fund
Fund administrator also announces two new hires for its Cayman operations.
December 17, 2020 10:44 AM GMT
IQ-EQ will provide Belfast-based Cordovan Capital Management with administration and depositary services after helping launch its first institutional fund.
Cordovan Capital Management is one of Northern Ireland’s most active private equity investors, having made nine portfolio investments since 2016.
IQ-EQ is providing a full fund services mandate including administration and depositary services as well as appointed representative and UK AIFM services through its subsidiary regulatory compliance business.
The new fund is aiming for its first close imminently and will be targeting a total AUM value of £50 million. The fund will be a private equity fund providing buyout and growth capital of £500,000–£4 million to ambitious UK and Irish SMEs.