Allfunds, the platform provider to the funds industry, has launched a new division called Allfunds Alternative Solutions, which is intended to offer clients better access to alternative assets and private markets.
Allfunds stated that it had seen strnog client demand for such a solution, especially from the wealth management segment. Allfunds has had experience in this area and assets under administration in specialised vehicles (UCITs, ELTIFs, UCI Part II, RAIFs and FCRs), however until today it was a service performed only on an on-demand basis.
Borja Largo, Chief Fund Groups Officer, will lead a team composed of a combination of new hires and existing Allfunds employees, whose task will be to channel current demand and drive Allfunds' growth in services related to illiquid strategies.
Focus will also be on improving operational efficiency for all vehicles serviced by the Alternative Solutions business - across both global (ELTIFs, RAIFs, UCIs Part II) and local (such as Spanish FCR) vehicles - to meet the needs of a broad and diverse client base, the platform provider stated.
Largo said: "It was essential for us to have a team dedicated exclusively to alternative assets. This was the only way we could meet the growing demand from our clients and offer them a service that matched their expectations and past experience with Allfunds. We decided to build this team and launch the project on the solid foundation of Allfunds' success in the traditional asset market, which puts us in a unique position to understand the requirements and preferences of both General Partners and distributors of illiquid strategies."
Juan Alcaraz, CEO of Allfunds, added: "This is another step in our ongoing effort to have the best value proposition in the market and to enhance our one-stop shop model, covering all our customers' needs in a single point of access. We have been developing our alternative offering for some time and believe that with the combination of our experience, human capital and technology, we are perfectly positioned to capitalise on these opportunities."
