Puttingclients rst
HighvernIreland’scountryheadPhilipDempseyspeakstoRealDealsabout howtheprivatewealth,fundandcorporateadministrationservicesprovideris supportingitsclientsafterreceivingregulatoryapproval
Canyoutellusaboutthe processgrantingHighvern Irelandpermissiontooffer administrationservicesto alternativefunds?
PhilipDempsey:HighvernIreland wasestablishedinJanuary2022as partofastrategicexpansionplan, asIrelandisakeyEuropeanfunds domicile.Itisalsorecognisedby bothinvestorsandassetmanagers asoneofthemostrobust, experienced,skilledandinnovative jurisdictionstodobusinessin.
Ourauthorisationprocesstook justninemonths,withusreceiving ourregulatedfundadministration licencefromtheCentralBankof IrelandinQ42022.Thisprocess ensuredthatwedevelopedarobust programmeofactivities,asour primaryobjectiveistobea standardbearerinourindustry.
Inadditiontothislicence, HighvernIrelandreceiveditstrust orcompanyserviceprovider licenceinApril2022,allowingusto providecorporateadministration servicestoSection110andSPV vehicles.
Withtheevolvingnatureof funds,andwiththeincreasinguse ofhybridstructurescontaining bothregulatedandcorporate funds,wecanserviceandmanage bothoutofeachclient-centric team.
Whatmakesyourbusiness standapart?
Dempsey:Ourfocusisonadding realvaluetoourclient’sbusinessby deliveringamarket-leadingservice. Withsignificantconsolidationof serviceprovidershavingalready takenplace,therisktotheclientis thattheirbusinesswillbecomelost inthenewlyconsolidatedprovider. Whilewecontinuetogrow,this willalwaysbewithbothintegrity andinacontrolledmanner.
Wedifferentiateandcompete, notonsize,butonservicedelivery, expertiseandpricingtransparency. Unlikemany,wearefocusedona singleplatformtoeliminate inefficiency,distractionand disruption,ensuringthatour servicemodelisparticulartoeach clientweworkwith.
Wedifferentiateandcompete, notonsize,butonservice delivery,expertiseandpricing transparency
Canyougointomoredetail aboutexpertiseincompliance andregulations?
Dempsey:Inbuildingascalableand client-centricbusiness,weputour complianceframeworkatthecentre ofhowweoperate.Inhavinga strongethosofcomplianceandrisk managementattheheartofour businessmodel,wehavethe internalandexternalcontrolsto protectourownbusiness,andthat ofourclients.Wehaveadedicated andexperiencedcomplianceteam andarobustcompliance framework,bothofwhichhelpusto betterserveourclientsandoperate efficientlyineachofour jurisdictions.
Howimportantisittohave deepdomainexpertisein Irelandandhowdoesit benefityourclients?
Dempsey:TheIrishteamhasmore than60yearsofcombined experience,coveringknowledgeof theindustryandalargenetworkof contacts.Tappingintothatresource isimportanttoprovidingthebest servicetoyourclients.The HighvernIrelandteamknowsthe localmarket,theproductswe serviceandcantalktothe operationalside,understanding issueswhentheyariseandworking throughsolutionstogetourclients thebestoutcome.Beingatrusted partnerforothermarket intermediarieswhoweworkwithis equallyimportant.Wecanhelpwith theprocessofindependentdirector selection,tailoringaccordingtothe clientstrategyandprofile.
Howdoestheintersection betweenprivatewealthand fundsinformyourapproach toclientrelationshipsand serviceofferings?
Dempsey:Weareseeingmoreofa trendandcrossoverwhereprivate wealthclientsarebecominglarger andmoreinstitutionalinnature. Theyarestartingtolookmuch moreatfundstructuresand regulatedfundstructuresas investmentvehiclesofchoice.In thisrespect,ourfundsandprivate wealthbusinessesintersectinthat wecanservicetheirneedsfrom bothperspectivesandacross multiplejurisdictions.
Arethereanyspecificproduct linesthatyouoffertoclients?
Dempsey:Ourspecialismis alternativeinvestmentfunds, includingclosed-endedandopenended(limitedliquidity)funds.For thesetypesoffundstructures, whethertheybeICAVs,Investment LimitedPartnerships,unittrustsor unregulated1907LPs,orindeedthe GPsthemselves,weofferafullendto-endproductsuite.Wehavean industry-leadingapproachtofund administration,regulatory complianceandMLRO,auditliaison anddirectorshipservices.Forour privatewealthbusiness,wehave specialistteamsthatprovidethe fullsuiteoftrustand administrationservicestoo.
HowdoyouincorporateESG considerationsintoyour businesspractices?
Dempsey:ESGisembeddedin
everythingwedoandtoreflectthis wehaveanESGcommitteeacross eachofourjurisdictions.Having thebroadestandmostdiverseteam allowsustothinkandact differently–collaborationandideas sharingahugefocus.Wesupport localcharities,eventsandpeople whoarepassionateaboutthese endeavoursandencourageour employeestogivebackthrough CSRdays,wellbeingchallengesand activitiessuchastreeplantingand beachcleanups.Highvernisalso proudtoparticipateinlocal initiativessuchastheGreenTeam NetworkinIreland.
WheredoyouseeHighvern headinginthecomingyears?
Dempsey:Thegroupitselfwas startedin1969andhasverywellestablishedbusinessesintheother jurisdictions.Asanewlyestablished businessinIreland,wehaveaclean slatetobuildascalablebusiness basedupontrust,partnership, transparencyandefficiency,all reflectinghigh-qualityserviceto ourclients.Inconcentratingonour specialisms,weprovidedeep domainexpertiseintheprivate fundsspace.We’refocusedon keepingouridentityasatrusted partnerandbeinghereforavery longtime.Ouraimistoworkwith clientswho,astheirbusinesses grow,knowexactlythehighservice standardtheywillgetfromus.●
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