DUBLIN--(BUSINESS WIRE)--Virtus Partners LLC, a leading financial services company in the alternative asset administration space, is pleased to announce that on the 7th of April its Irish affiliate, Virtus Partners Fund Services Ireland Ltd, became authorized by the Central Bank of Ireland to provide fund administration services.
Dermot Caden, Head of European Fund Services commented that: “This exciting development will allow Virtus Partners to service its existing and new clients in the regulated fund space. Ireland has long been a key domicile for alternative asset managers and with Virtus having decided to make Dublin an operations hub for its broader European operations, becoming a regulated fund administrator in this jurisdiction was a next logical next step”.
Virtus Partners launched its Dublin Office in July 2016 and has quickly expanded servicing of European and global asset managers. Ireland is one of two key fund structuring destinations for both EU and non-EU managers; thus, it was a strategic imperative for the firm to acquire a regulatory license there. Virtus expects to continue to build out its operation in Ireland, capitalizing on secular shifts in capital markets as well as asset management operating models.
Pradeep Rao, Managing Director (Europe) commented that: “Virtus’ traditional middle office business has grown significantly in recent years as substantial capital has been raised in the European credit space. In keeping with that theme, we see opportunities to grow our fund administration business by offering a broader solution set to Virtus clients and market- both in Europe and North America”.
About Virtus Partners Holdings, LLC
With over than $350 Billion of Assets under Administration (AUA), Virtus is a technology and services company specializing in providing tailored solutions to credit and fixed income managers. Virtus clients are served by more than 300 employees globally located in Houston, Austin, New York, Nanjing, London and Dublin. For more information please visit: www.virtusllc.com.