Carne Global Financial Services, an adviser to the traditional, alternative investment and wealth management industries, has been appointed by Merchant Capital, a corporate finance, investment advisory and stock broking firm, to provide independent directors to its Ucits III service for hedge fund managers.
Directorships will be facilitated through Carne’s Independent Directorship Programme to fulfill the counterparty requirements of the Ucits framework.
Carne was also used by Merchant Capital for the development of its business and risk management planning.
The Carne Directorship Programme offers traditional, hedge and alternative fund managers the full range of capabilities of non-executive fund directors. Each member of the panel has over 15 years’ industry experience. The 12-strong team has experience in a wide range of funds and related management companies, including hedge funds, funds of hedge funds and Ucits III funds, as well as property, private equity and multi-manager funds.
Earlier this month, Merchant Capital launched its Ucits III umbrella structure for hedge fund managers, including small to medium-sized funds, offering them a fast route-to-market and reducing the high fees normally incurred when establishing a fund.
Merchant Capital launched a Ucits III European long/short equity fund backed by Tressis as a client. Tressis is a Spanish independent distributor of investment funds, structured products, fixed income and other financial products.
Ann-Marie Galvin (pictured), director at Carne Global Financial Services and a member of the Carne Global Directorship Programme, says: “We were very pleased to be selected by Merchant Capital, an innovator in the hedge fund industry, to provide corporate governance to their clients. Their service is filling an important gap in the market and we are excited to be part of their success as they take advantage of the trend in Ucits fund growth.”
George Cadbury, director, Merchant Capital, adds: “The Ucits III requirements for corporate governance are a significant selling point of the framework for fund managers and their investors. Carne is a leader in this area and its independent directors panel enables us to draw on the skills and experience of directors who are the best in their fields.”
