Intertrust Group has expanded its Australian service offering to cover regulated trustee, custody and escrow services.
The expansion adds to Intertrust’s existing provision of corporate and fund administration services, such as company secretarial, board support, payroll, accounting and reporting, and know-your-customer services.
Outsourced trustee services for alternative funds, including private equity, real estate, venture capital and debt funds, have grown considerably in Australia, with over $500 billion in assets under administration.
Intertrust was recently granted its Australian Financial Services License, which allows the firm to provide a complete end-to-end solution for alternative funds investing.
Andrew Cannane, corporate trust executive director for Australia at Intertrust, explained: “Global investors are seeking service providers that have the commitment and capacity to partner with them in all of the major fund jurisdictions around the world.”
“We expect continued significant investment into Australian real assets by both local and international fund managers, institutional investors and superannuation and pension funds in the years ahead.”
Stephen Tamas, managing director for Intertrust Australia, added: “It is a significant milestone in the evolution of our business in Australia, and I am proud to have Andrew Cannane at the helm of this new business unit to support the growing needs of our local and global clients.”
Intertrust provides similar regulated trustee services in several global financial markets, including Hong Kong, Singapore, Luxembourg, Ireland, and the Cayman Islands.
