Northern Trust is to provide fund administration and banking services to the recently launched Apse Capital Bridge Fund.
The closed-ended private equity fund has been established under Guernsey’s Private Investment Fund (PIF) regime which offers a route to market for eligible funds.
Apse Capital is a new independent European private equity group focusing on buyout and development capital opportunities in European tech-enabled information and services businesses.
Ashley Long, partner at Apse Capital, said: “Northern Trust has been appointed based on long-standing existing relationships which have been characterised by a commitment to proactively supporting the strategic goals of the private equity funds that the investment team at Apse Capital and its predecessors have advised on.”
Dave Sauvarin, country head of the Channel Islands at Northern Trust, commented: “This successful launch illustrates Guernsey’s flexible and proportionate regulation allowing fund managers to access markets quickly, enabling them to respond to competitive global opportunities.”
He added: “The PIF is a part of the toolbox of solutions for alternative fund managers looking to domicile funds in Guernsey. Northern Trust is pleased to have worked closely with Apse Capital and its legal advisers to achieve this result.”
