IQ-EQ has been appointed as administrator and depositary for Cordovan Capital Management’s first fund for institutional investors.
Focusing on Northern Ireland but investing selectively elsewhere in the UK and Ireland, Cordovan’s investment approach is to provide buyout and/or growth capital to profit-generating small businesses that are poised to scale.
As an emerging manager that has previously invested via a syndicate model, Cordovan has realised two distributions to its investors from its existing portfolio and anticipates further returns in 2021.
The new fund is aiming for its first close imminently and will be targeting a total assets under management value of £50 million, explained IQ-EQ.
Appointed earlier this year, IQ-EQ is providing a full fund services mandate including administration and depositary services as well as appointed representative and UK alternative investment fund services through its subsidiary regulatory compliance business.
Leading IQ-EQ’s relationship with Cordovan is funds director Tom Miller, who commented: “It is our absolute pleasure to be assisting Cordovan Capital Management with their first fund for institutional investors.”
“We’ve been delighted to deliver a full suite of administration, depositary, regulatory hosting and compliance services – showcasing the strength and depth of our offering to alternative fund managers – and very much look forward to continuing to work closely with Mike Irvine, Daniel Anderson and the rest of the Cordovan team through a successful launch and beyond,” noted Miller.
Daniel Anderson, associate director of Cordovan, commented: “Launching our first institutional-grade fund has been a steep learning curve for Cordovan, but as we near our first close, we can reflect on how supportive the IQ-EQ team has been to date.”
“They have conscientiously assisted at every stage of our fund development and launch process and we very much look forward to our next phase of collaboration, which will see them form an intrinsic part of our fund’s operating model,” added Anderson.
