Alter Domus has launched an alternative investment fund manager (AIFM) and specialised depositary services in Ireland.
The launch of an AIFM management company follows approval by the Central Bank of Ireland for the acquisition of Beechbrook Capital’s Irish AIFM, and authorisation for Alter Domus’ specialised depositary services.
Established in 2008, Beechbrook Capital is a specialist fund manager providing debt and minority equity finance to small and medium-sized enterprises (SMEs) across Northern Europe.
In 2019, Beechbrook Capital established an Irish AIFM in Cork to manage a similar strategy supporting SMEs across the Republic of Ireland.
Alter Domus has acted as fund administrator to Beechbrook Capital for the past 10 years.
The acquisition allows Beechbrook Capital to focus primarily on its core SME investment strategy in Ireland and Europe, with the support of a trusted partner in Alter Domus.
Meanwhile, Beechbrook Capital’s AIFM in Ireland will enable Alter Domus to help support increased private capital flows between North America and Europe.
The launch of Alter Domus’ depositary services is set to “significantly strengthen” its range of fund administration and corporate services in Ireland.
The company currently holds $113 billion in assets under depositary for global private debt, private equity, real estate and infrastructure investors and managers.
James McEvoy, Alter Domus country executive for Ireland, says: “The launch of AIFM and depositary services in Ireland is a pivotal step for Alter Domus, as we continue the expansion of our business and offer a specialist suite of fully integrated solutions from Ireland. We have a long and trusted relationship with Beechbrook Capital, an experienced and successful capital provider to SMEs, and we are proud to acquire their Irish AIFM platform.”
“This acquisition, and the launch of our depositary services, significantly strengthens our offering for existing clients and prospective international fund managers seeking to domicile alternative investment funds in Ireland and builds on Ireland’s established position as a global centre for financial services and recently enhanced ILP legislation,” McEvoy adds.
