MSC gains $1.1b Oaktree-backed appointments
MSC Group’s trustee and fund administration arms have been appointed to more than 60 existing individual funds backed by global investment manager Oaktree Capital Management, worth $1.1 billion.
Each of the appointments were in conjunction with new management of the existing funds by three recently-formed Australian fund managers who were 50% owned by Oaktree.
The three managers were:
- Argyle Capital Partners – Australian agriculture asset specialist, led by Kim Morrison;
- January Capital – dual Australian/Singaporean based private equity firm, co-led by Benjamin Dunphy, Jason Edwards and Jonathan Hodson; and
- Fortitude Investment Partners – Australian private equity firm, co-led by Nick Dignam and Nick Miller.
Matthew Fletcher, MSC Group managing director, said each of these three fund managers ran independent processes and selected MSC services amongst competition.
“In doing so, they each made an excellent decision to invest in market leading governance by engaging independent trusteeship and outsourced administration services in the continuing operation of these funds,” Fletcher said.
“This will ensure investors’ interests are protected with the best possible oversight and the funds are managed with the highest quality services.”
MSC was founded eight years ago to offer market participants a more commercial solution to trustee services.
“We have since expanded into fund registry and accounting services to offer tailored support to fund managers and investors, where required,” Fletcher said.
“MSC is determined to provide fund managers with a better alternative to operating their own trustee function and avoid internal and commercial conflict in the process.”
Appointments under contracts separately with MSC