Cornerstone appoints Mainspring as fund administrator for Funds 1, 2, 3 and 4

We are pleased to announce that Cornerstone Private Equity, the UK and European mid-market fund of funds manager completed the first close of its Fund 4 and has re-appointed Mainspring as fund administrator for the new fund, which will take its total funds under management up towards its near-term target of £100m.

Cornerstone is a fund of fund manager investing in a select group of experienced private equity funds, such as managed by Silverfleet Capital, Montagu, Equistone, HgCapital and Phoenix Equity partners.  Cornerstone provides access to these established fund managers for high net worth individuals, family offices and smaller institutions.

Chris Collins, Partner, Cornerstone commented:

“We appointed Mainspring as fund administrator for Fund 3 and having worked with the Mainspring team we subsequently migrated our first and second funds from another fund administrator to Mainspring.  We had no hesitation in appointing Mainspring for Fund 4.”

Stephen Geddes, CEO of Mainspring Fund Services said:

“We are very pleased to be working with the team at Cornerstone again for their fourth fund, and it gives us great pleasure to be able to demonstrate the value we can bring to supporting fund managers with multiple complex investment relationships across several funds”.