Award-winning hedge fund and private equity administrator, JP Fund Administration (Cayman) Ltd, has grown its Assets Under Administration (AUA) to more than USD5 billion, bringing the JP Integra Group total AUA to more than USD6 billion.
JP Fund Administration is one of the three core operating companies that comprises the JP Integra Group; the other two being: JP Integra Trust Company (Cayman) Limited and JP Management Services Limited. All three companies are headquartered in Cayman and are licensed by CIMA.
“We are delighted by the growth of our AUA, especially as it has been built up by new private equity and family office private fund vehicles,” comments Peter Cockhill, CEO, JP Integra Group.
“Our fund administration business is the cornerstone of JP Integra’s operations and our fund-related business proposition in which we can provide the full suite of administration services as well as establish funds and related vehicles has enabled us to favourably distinguish ourselves from many of our competitors.”
2017 was a year of building foundations for growth with investment in systems and processes to enhance JP Fund Administration’s operational capabilities in support of its growing base of investment funds. It has, for example, obtained the SOC 1 accreditation to demonstrate that the processes and systems in place meet the highest international standards.
Funds with more complex requirements has traditionally been an area where JP Integra can distinguish itself by providing project management and structuring in addition to administration services, says Cockhill, confirming that in 2017 private equity funds for sovereign wealth fund joint ventures “has added a new string to our bow”.
“There has been much general comment made about the overlap between private equity and hedge funds, but for us the nexus has been between private funds and associated corporate and trust structures. We have worked with several international banks on constructing fund structures to enable their private clients to deploy compliant offshore capital that has been freed up by the sequence of tax amnesties and collection efforts of various Latin American countries.”
Discussing the internal culture, Cockhill says that a combination of experience and ability in both management and staff across its group operating companies “is a key factor and strength of our group”, building solid relationships with clients, sharing experiences and understanding their needs so as to deliver excellent service.
“Our management team comes from a variety of backgrounds: financial markets, banking, private client, international operations and law, with the result that we are usually able to share the perspective of our clients as we have experience of walking in their shoes. Financial technology and operating platforms are evolving very quickly and driving major changes in financial services, but ultimately establishing and administering client vehicles is a matter of confidence and trust and there is no substitute for experience and integrity,” explains Cockhill.
He adds: “In addition to the human factor, we also hold a trust licence and a company management licence, which in many cases enables us to provide a more rounded and personal solution to our clients.”
JP Fund Administration’s clients are widely dispersed in Europe, Asia and the Americas. As such, building upon existing client networks and improving its sales distribution through the appointment of experienced and knowledgeable financial services professionals in each of these geographic regions “will be our focus in 2018”, confirms Cockhill.
On winning this year’s award, Cockhill remarks: “It is a real compliment from the clients that voted for us, for which we are very grateful, and it is testimony to the professionalism and commitment of our staff.”
