Client Need:
MUFG Investor Services Expertise:
Better Outcome:
A comprehensive operational model for a new evergreen fund that could fit into the client’s existing technology stack—and be ready for launch within seven weeks.
A $1B+ global investment manager decided to utilize a semi-liquid fund for a multi-faceted private market offering. But without the necessary administrative and operational support, it was not positioned to tackle the challenging, and often nuanced, requirements of an evergreen structure. It needed a team that could overcome these operational complexities and provide deep subject-matter market expertise.
With time to market a critical factor, semi-liquid fund experts at MUFG Investor Services were engaged for a fast-paced, remote engagement.
Working alongside the client, our team automated critical back-office services for the fund, while “decoding” evergreen nuances for in-house counsel and sharing expertise about the downstream impacts of combining elements of open- and closed-ended funds.
The evergreen fund successfully launched within seven weeks and executed its complex portfolio strategy with critical back-office support in place, including automated record maintenance, streamlined accounting and unit pricing. Throughout the set-up, the team also focused on future-proofing the fund in line with private placement memorandum requirements.
The client achieved:
Additional benefits:
“As fund managers explore perpetual structures, it is critical for them to understand the full impact of their set-up decisions. Combining elements of closed- and open-ended funds in an evergreen approach creates challenges and opportunities that must be carefully navigated.”
Audrey Nangle Executive Director, Private Markets Product Specialist, MUFG Investor Services
