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Vistra, a leading global fund administration, trusts and corporate service provider, announced today that it has completed the acquisition of the Corporate Services business of Deutsche Bank. Following Vistra’s announcement of the deal in September 2017, the Corporate Services business will now be rebranded under the Vistra umbrella. 'Corporate Services' provides management and administration of Special Purpose Vehicles and asset holding companies to banks, non-bank financial institutions and corporates. The business specialises in the administration of structures for:Structured Finance transactions (Collateralized Loan Obligations, Collateralized Debt Obligations, Securitisations, Mortgage-Backed Securities)Aircraft...
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Vistra Amsterdam’s Capital Markets team is proud to announce that it has supported the closing of a major new Dutch alternative lending transaction set up by KKR, NEOS Direct Lending and Schroders. Vistra Amsterdam provided full management and administrative support to the originating entity, Dutch Growth B.V. Moreover, in a collaborative effort between Vistra’s Amsterdam and Mumbai offices, Vistra provided full scope administrative services to the loan portfolio, including the setup and monitoring of direct debits, reporting over portfolio performance to the investors, calculations of interest and principal received and payments of structural costs in accordance with the priorities of payments as set out in the transaction documentation....
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On 12 July 2018, the European Securities and Markets Authority (“ESMA”) issued a public statement in order to raise the awareness of all market participants on the importance of preparing for the possibility of no agreement in the context of the United Kingdom withdrawing from the European Union.Pursuant to this, the regulator for the Luxembourg financial sector, the Commission de Surveillance du Secteur Financier (“CSSF”) reminded managers wishing to relocate to Luxembourg of the need to obtain an authorisation in order to continue to service the European market should a “hard Brexit” take place on 30 March 2019.An alternative solution?For those asset managers not wishing to relocate, or set up operations in Luxembourg or an equivalent...
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Patricia White, Managing Director at Vistra Guernsey, has been shortlisted for ‘Woman of the Year - Leadership (Large)’ at the Citywealth Powerwomen Awards 2019. This is the fourth year she has been nominated at these Awards. At last year’s Awards, Patricia won a bronze award in the ‘Woman of the Year: Business Growth’ category. This will be the seventh Powerwomen Awards, a programme to champion women in the wealth sector and highlight the female leaders of today and tomorrow.All category winners will be announced on 21 February 2019 at the Powerwomen Awards gala dinner, which will both recognise individuals and companies who maximise the potential of women in wealth, and will also create a platform for best practice to...
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The Cyprus House of Representatives has approved the much anticipated legislation which will further encourage the establishment of funds in the Republic of Cyprus.The Alternative Investment Organisation Act 2018, which replaces the existing law, enables the establishment of Registered Alternative Investment Funds (RAIF) in Cyprus, essentially aiming at streamlining the timeframe and cost of setting up an alternative investment fund in Cyprus.Although finer details of the law will become available on its publication in the official Government Gazette later this year, it is understood that, inter alia, a RAIF:will not require authorization by CySec (the Cyprus Securities and Exchange Commission), but will be supervised by a licensed AIFMcan...
