Equinoxe expands globally, grows ILS assets under administration

by Artemis on November 8, 2013

Bermuda based Equinoxe Alternative Investment Services Ltd., a provider of administration services to investment funds, is expanding its footprint around the world with new offices and has grown its insurance-linked securities assets under administration to $2.1 billion.

Equinoxe announced that it is opening new offices in Malta and Singapore, expanding its global presence to 7 locations, in addition to Bermuda, Dublin, Sligo, Atlanta and Mauritius.

Equinoxe sees the new offices as opportunities to tap into growing domiciles where alternative investment fund managers are locating operations and the regulatory environment is favourable to encourage funds to move to the locations as well.

Stephen Castree, CEO of Equinoxe commented; “Malta is an excellent complement to the presence that we already have in Ireland and we are delighted to report that the Malta Financial Services Authority has authorised Equinoxe Malta to conduct fund administration business. I am also extremely pleased to announce the opening of Equinoxe in Singapore, as a regional hub for servicing our Asian business, which has been growing steadily. Equinoxe anticipates seeing significant regional interest in Funds being serviced from this office.”

Equinoxe has ambitions to grow further and may grow its offices even further over the next year. Castree explained; ““We are anticipating opening further offices in the coming 12 months driven by the increasing volume of our North American business. The development of our consultative approach to middle office servicing and technology integration is leading to several new mandates, with this product currently being rolled out in North America. As ever, maintaining a controlled rate of growth with excellent customer service remains our principal objective, and each office continues to take on 2-3 clients per quarter.

Equinoxe provides administration services to a number of insurance-linked securities (ILS) fund operations and sees this as a potential area for growth, both from its Bermuda office and in the future other locations. In the last two years Equinoxe has grown the amount of ILS assets under its administration to $2.1 billion and ILS now accounts for almost 16% of the $13.5 billion of assets it administers across asset classes.

Rod White, Director of the Bermuda office for Equinoxe told Artemis; “The growth in the ILS market and the fact that Bermuda is a market leader is definitely exciting for Equinoxe as it shows the creativity and strength of the local market. We continue to grow globally and develop our market reach and we view this as one of our strengths in servicing this market. Along with an experienced management team and continual investment in ILS, our business will become a top tier firm not only in this market but the alternative space as a whole.”

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