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Wagamama returns – a long term patient and profitable exit for Hutton Collins

Hutton Collins’ funds sold Wagamama to The Restaurant Group in December 2018, with a cash return distributed to the funds’ investors earlier this year. The story behind the facts is that Hutton Collins supported the journey of Wagamama through an association of 12 years and provided a profitable return for fund investors that beats the listed markets benchmarks.  In a nutshell private equity doing its thing. Stephen Geddes, CEO Mainspring commented: “As fund administrator to Hutton Collins it’s always a pleasure to

Luxembourg: what’s driving success? (Carne)

Luxembourg: what’s driving success? The preferred European jurisdiction for private equity and private debt investment structures Guest contributor: Luc De Vet, Carne Group, European Alternative Investment Funds Leader   Introduction Luxembourg holding and finance vehicles have been used for many years in structuring investments in private equity and private debt (hereafter together referred to as “PE”). Over the past 5 years, the number of investment funds investing in PE and establishing in Luxembourg has grown significantly. What has caused this growth? There are various factors of

Mainspring receives retail permissions

Mainspring Fund Services is pleased to announce the addition of retail permissions to its FCA authorised status. Mainspring offers custody and nominee services to managed portfolio structures and fund administration to venture capital and private equity managers. Mainspring’s custody and nominee service is primarily targeted at EIS, SEIS and IHT fund managers. Mainspring has several notable EIS fund manager clients that have seen substantial growth in the last 3 years, and supports emerging managers to start and build their funds. The decision to

Blockchain And Its Role In Your Fund

This article summarises Mainspring’s research findings for blockchain’s suitability as a replacement for traditional SQL based systems for fund management and administration. The full findings are available for download here. Blockchain has the potential to shape industry in profound ways, so much so its introduction has been likened to the invention of the Internet. To become more informed and determine the company’s position with respect to blockchain, earlier this year Mainspring undertook a practical proof-of-concept project as well

Mainspring Milton Keynes office open for business

Milton Keynes is more than just roundabouts and concrete cows, we are pleased to announce that we have opened Mainspring’s second office and it’s in Milton Keynes. It’s a notable milestone in any company’s growth and we’ve chosen Milton Keynes as a hub commuter location to expand the company’s fund accounting service. We have a small team in place and we are looking to grow.  If you’re a qualified fund accountant with experience in private equity or you’re starting out in your

What’s driving change for Private Equity reporting?

In today’s marketplace Private Equity reporting is subject to change as never before. Investors demand granular data at their fingertips. New GDPR requirements demand enhanced controls and transparency. To respond and succeed, fund managers need to achieve ever greater fund operation and investor reporting efficiency within a clearly defined technology strategy. GDPR The intention of GDPR, which came into place in May 2018, is to protect the rights of natural persons (EU citizens) in respect of their data. Whilst many funds may

Observations from a blockchain PoC research project in Private Equity Fund Administration

Earlier this year Mainspring undertook a 3-month proof-of-concept (PoC) to get hands-on with our research of blockchain technologies. As a Fund Administrator, Mainspring holds the books of record for a client’s fund, independent of the fund’s investment manager, undertaking the accounting and reporting of the fund’s performance.  In addition, Mainspring provides administration services for operating the fund which are largely event driven and typically follow a defined workflow process, such as: making a new investee company investment; effecting a drawdown of

Mainspring launches digital EIS Certificate solution

In 2016/17, 3,470 companies raised a total of £1.8 billion of funds under the EIS scheme and to date, a total of £18 billion of EIS funds have been raised since the start of the scheme*. This is an attractive investment pool for fund managers to target as they look to raise capital to support growth-stage businesses, however, it doesn’t come without its challenges. For fund managers operating in the EIS market, claiming EIS tax relief and dealing with investor queries

Private Equity LP Fund with HNW Co-Invest UK feeder

If you are considering creating a UK feeder fund for individuals to co-invest alongside the main fund, this may be a cost effective, simple solution. Mainspring has an award-winning nominee and custody platform which can be branded and structured as a discretionary or fully managed mandate.  Whether the main fund is domiciled in the UK, Jersey, Guernsey, Luxembourg or Cayman this dedicated feeder can be a co-investor for investors from any country into any primary asset. Use this dedicated FCA regulated UK

Dawn III – Mainspring appointed as Fund Administrator to Dawn Capital’s latest $235m European fund

Dawn Capital announced in April 2018 the closing of Dawn III, a fund focused on SaaS and FinTech companies in Europe and which closed at $235m (£165m). Investors include UK, European and US institutional investors and notably the European Investment Fund (EIF). Mainspring provides funds administration, accounting and investor reporting services for Dawn I and II and is delighted to announce the continued relationship with Dawn, with Mainspring providing full funds administration for the London partnership as well as consolidated investor