Service update: Latest moves in fund admin – June 2012

Markit adds a data management platform to its roster, Ipes wins more business and SEI increases its operational solution capabilities.

• Fund management service provider SEI has extended its services to provide Key Capital Investment Management with an operational outsourcing solution for the financial advisory firm’s private equity business. Key Capital provides family offices and high-net-worth clients with exposure to a host of Europe’s leading private equity firms including Apax, Cinven, CVC, Equistone, and Permira.

• Markit, a financial information services company, is set to acquire data management specialist Cadis and its dedicated data platform. The platform addresses front-to-back office integration and frameworks for trading, pricing, risk and compliance management.

• Fund services provider Ipes will take over the back office operations of UK-based investment trust Candover Investments. The decision was based on Candover’s focus on returning cash to shareholders following a revised investment policy.

• Ogier, the legal and fiduciary services provider, will open a boutique law firm and fiduciary business in Luxembourg. The firm will focus on corporate and fund administration as it expands its fiduciary offerings.

• State Street has appointed Valerie Haertel, formerly of Medco Health Solutions, as senior vice president of investor relations. She replaces Kelley MacDonald, set to retire at the end of the third quarter, having spent more than a decade in the job. Haertel will be responsible for managing relationships with the company’s shareholders and analysts.