Changing private equity and real estate market drives demand for a range of solutions
Augentius, the specialist global service provider to private equity and real estate funds, enjoyed another strong year in 2016, with its business growing by a further 18% in the year. Augentius has grown by an average of 19% per annum over each of the last 5 years. It now has around $115bn assets under administration and provides solutions to 520 funds and 198 clients.
The impressive growth was spread across the globe, with Augentius seeing a substantial uptick in all regions. Augentius now services 12 domiciles around the world, providing reporting to investors from 111 countries.
As well as growth in its traditional fund administration solutions, in particular an increase in funds migrating their entire administration function to Augentius, the firm has also benefited from increased demand for its newer solutions in other areas, reflecting the changing marketplace.
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Augentius’ depositary business grew by 50 per cent over the year, partly driven by an increase in non-EU managers looking to market to EU investors and comply with private placement regimes. With the regulatory landscape becoming ever-more complex, Augentius’ compliance business also doubled in size over the year. The firm’s AIFMD and FATCA/CRS reporting solutions have also benefited from increased demand – in 2016 Augentius filed more than 300 AIFMD reports for clients, as well as more than 200 FATCA/CRS reports, covering around 1000 investor accounts across a range of different tax authorities.
With a strong pipeline in place for 2017, Augentius is confident of significant further expansion in the year to come, driven in part by the deployment of enhanced technology to clients, and the continued development of new offerings to meet the ever-expanding needs of the industry.
Ian Kelly, Augentius CEO, commented: “At the beginning of 2016 it was clear to us, from our Annual Survey and talking to clients, that there was real appetite across the industry not just for outsourcing traditional fund administration functions, but for a range of third party solutions such as reporting and compliance – solutions that we were ideally placed to provide. Our success and growth during the last twelve months is testament to this, as well as the skill of our people and the consistency and quality of the service we deliver.”
“Our Annual Survey this year reveals that, if anything, this trend is increasing. While fund administration remains the most popular business function to outsource, we also see strong and increasing appetite across all regions for outsourcing tax and regulatory reporting functions, as well as increased need for help with compliance. With a majority of funds and investors expecting improved market conditions in 2017, we look forward to another year of expansion. Alongside our existing offerings, we will continue to develop new solutions wherever we perceive a need – in particular there is tremendous potential in using enhanced technology to both improve and expand our offering to managers as well the investor community.”
Access Augentius’ full Annual Review here and Annual Survey here.