NES Financial, a JTC Company, has joined the Opportunity Funds Association (OFA) as a new member and preferred service provider of OFA services.
OFA is an advocacy, education, and communications organisation established to enable Opportunity Fund managers and investors in Opportunity Funds to participate in public policy, share best practices, and communicate the industry’s contributions to distressed rural and urban communities across the country.
Meanwhile, a fintech company providing technology-enabled solutions for the efficient back- and middle-office administration of complex financial transactions, NES Financial is serving more than 75 clients with its purpose-built Opportunity Zone Fund Administration Solution.
According to OFA, the NES Financial Opportunity Zone Fund Administration Solution leverages technology to streamline fund administration to enhance the OZ fund experience and attractiveness for investors and facilitate compliance.
When NES Financial celebrated the signing of its 50th client at the end of 2019, OFA CEO Shay Hawkins said: “With specialised opportunity funds and the importance of the long-term viability of the program, it’s great to see the industry embracing third party fund administrators such as NES Financial. Congratulations on signing your 50th client.”
JTC agreed to acquire the US-based fund administration business NES Financial in April.
Nigel Le Quesne, CEO of JTC, explained that the US is a “key growth market” for the group and NSEF is the “perfect partner and platform” to drive the strategic expansion of JTC’s institutional client services division and in particular its US fund administration business.
