Following a lengthy tender process, Ipes Jersey has been entrusted as the new administrator of Quadriga Capital's German private equity funds, selected over several other shortlisted third party fund administrators.
Quadriga Capital is a leading German fund manager founded in 1995 focusing on mid-market companies in Germany and neighbouring countries, in particular Switzerland and Austria. It invests primarily in management buy-outs and buy-ins and its objective is to produce substantial capital gains over the medium term.
Quadriga Capital has chosen to migrate all its German private equity funds to Ipes Jersey, including its most recent flagship fund, Quadriga Capital Private Equity Fund IV L.P., which closed with total committed funds of approximately €511million. This is a reflection of Ipes’ offering and the strength of its Jersey operations.
Commenting on why they chose Ipes, Joachim Merten, CFO of Quadriga Capital says “Ipes are a natural fit. Their specialism in the private equity sector was very clear to us from the start and a thorough review process showed to us that they are among the top of their peers. We really like the way our teams work well together and the quality of service has been evident during the take-on process. Ipes have been known to several of our investors before, and they have a great reputation in the industry. We felt the time was right to move our funds and are very pleased with our decision.”
Ipes Jersey will provide administration, accounting, company secretarial, registered office, director and compliance services to Quadriga Capital’s funds and related entities. Nigel Strachan, Managing Director of Ipes Jersey says: “We are delighted and really excited. The addition of Quadriga Capital to our client portfolio is an important one as we continue to grow the business and build the team in Jersey. Everyone at Ipes is thrilled and looking forward to the prospect of supporting Joachim and his team in the future.”
Ipes Jersey recently appointed Jonathan Buesnel as new business director from Moore Group and Jean McNutt as client director from State Street. Jonathan and Jean bring with them a wealth of experience in the administration of private equity funds.
Jean has over 25-years experience in the finance industry. At State Street she was co-head of private equity having overall responsibility for the CVC Capital Partners client relationship. Jonathan is a member of the Institute of Chartered Accountants of England and Wales and has more than 15-years experience in the finance industry in senior accountancy and client relationship roles.
Ipes is a specialised provider of fund administration and outsourcing services to the private equity industry, managing in excess of $72bn assets for more than 100 clients, 250 funds and 7,500 investors worldwide. Over 160 experienced professionals work from four full-service offices in London, Luxembourg, Jersey and Guernsey.