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.