Fund administration group Centaur is increasing its product offering and expanding its global footprint by opening an office in Bermuda.
It follows a recent move for Centaur’s European headquarters to larger offices in Dublin’s International Financial Services Centre to accommodate the tenfold increase in employees that Centaur has experienced over the past six years.
The firm now has offices in Dublin, New York, London, Bermuda, and Cayman.
Karen Malone (pictured), founding partner of Centaur, says: “This is an exciting time for Centaur, which has steadily expanded on the back of exceptional performance. Our latest service location in Bermuda is a natural step in the development of our business and will be particularly focussed on the North American and Bermuda market place.”
Over the past three years, Centaur has added new business and has increased its assets under administration by over 300 per cent.
Malone says: “Ensuring a quality client experience is part of our DNA and I am extremely proud of our record of 100 per cent client retention. We have worked hard to build a ‘client first’ culture through the hard work, dedication and achievements of our team and we ensure the best and most committed are in place to support our clients in their jurisdiction. As a result, our client retention is the best in the industry.
“From the outset, we have led the field in AIFMD regulation. We put clients at the heart of our depositary service offering, enabling us to offer the best possible service, supported by continuous innovation at the most competitive price.
“Most of our clients have moved their business to us to receive a superior service. Since our inception, we have successfully transitioned funds of all sizes. For example, we recently transitioned fund administration services for a global investment firm in the US who now use Centaur to administer several billion dollars in multiple fund structures across many jurisdictions and investment strategies.
“Cyber threats remain high on the radar for fund managers and we take cyber security extremely seriously. We understand what is at stake and continually review and analyse risks, vulnerabilities and alerts with our technology partners.”
Centaur has identified private equity funds and family offices as two industry sectors that are increasingly realising the benefits of outsourcing their administration operations. Increased regulatory pressure, complex investment strategies and structures and the demand for transparency are driving this trend towards outsourcing.
Malone says: “We understand what is important to the private equity and family office sectors and how their needs differ from other alternative investment manager clients. We understand that each client is different and we adapt our solution to suit each client’s processes and reporting needs. The results have been rewarding and we have gained several new clients in both these sectors over the past year.”