Intertrust, a provider of specialised administration services, has been appointed as fund administrator and depositary to European private equity firm KLAR Partners.
As part of the mandate, Intertrust Group will provide KLAR Partners with fund administration, depositary and special purpose vehicle (SPV) management services across Luxembourg and Sweden.
KLAR primarily invests in companies based in the Nordic, Benelux and DACH regions, operating in business services and industrial sectors with an annual turnover of approximately €50 million to €500 million.
KLAR Partners recently announced the final closing of its debut fund, KLAR Partners I, at its hard cap of €600 million.
Following a competitive tender, Intertrust Group was appointed based on the firm’s bespoke offering, operational strength to service the entire vertical fund structure and strong European foothold.
Edwin Chan, director, UK funds at Intertrust Group, comments: “We are delighted to have been appointed as the preferred administration and depositary provider for KLAR Partners.”
“KLAR’s highly successful debut fundraise during the COVID-19 pandemic is a testament to the strength of its investment approach and we are confident that our strong asset class expertise and bespoke global service offering will be instrumental in supporting KLAR’s growth ambitions,” adds Chan.
