Mainspring Fund Services and Aspida Group today announced the launch of a $550m private investor fund, in Guernsey.
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, fund managers will benefit from the focused, specialist services of Aspida for governance, economic substance and regulatory compliance, and Mainspring for fund administration.
Aspida is a Guernsey-based provider of solutions to alternative fund managers. Its clients manage assets of more than £2bn across multiple alternative asset classes.
London-based Mainspring delivers fund administration services to over 70 clients, with more than £5bn of assets under administration.
Under the partnership, Aspida will provide fund managers with a comprehensive 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 said Mainspring has "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."