Guernsey: Guernsey Firm Wins New Private Equity Award
Last Updated: 26 February 2008

Guernsey-based Schroder Private Equity Services (SPES) has been named ‘Best Private Equity Fund Administrator 2007’ at the European Venture Capital Journal (EVCJ) awards.

SPES received the accolade during the EVCJ’s annual awards dinner at the Dorchester Hotel in London. The venture capital and private equity publication hosts the event to recognise and celebrate outstanding achievement in the sector and it is attended by more than 300 of the most senior industry professionals from around the world.

The trophies – this year presented by the Rt Hon William Hague MP – are awarded on the basis of votes from EVCJ’s readership. The award for ‘best fund administrator’ was a new category introduced this year by EVCJ, which is a Thomson Financial title and recognised as one of the leading publications in the field.

"We are thrilled to have won this award – it is a perfect way to recognise the hard work the team has put in over the past year – and especially pleased that a Guernsey company came away with the trophy," said Nicola Walker, Managing Director of SPES.

"The addition of this new category is fitting given that increasing numbers of private equity funds are choosing to outsource their fund administration. The fact that there is plenty of choice means that winning this award is a major accolade for both Schroders and Guernsey."

The latest figures from the Guernsey Financial Services Commission (GFSC) show that at the end of September 2007 private equity funds under management and administration in Guernsey had a total value of more than Ł28bn – up 40% in the first nine months of 2007 and 9% during the previous quarter.

Peter Niven, Chief Executive of GuernseyFinance, said: "Over the last few years and particularly during 2007 Guernsey has been gaining a reputation from leading fund promoters and sponsors as the jurisdiction of choice for private equity.

"For a Guernsey firm to receive this award so early into 2008 not only reinforces the Island’s credentials as a centre of excellence for private equity funds but gives us a significant boost as we look to continue growing our business and developing our infrastructure throughout the rest of the year."

SPES is part of the Schroders group. It opened for business in Guernsey in December 2003, having operated in Bermuda since 1983. The SPES philosophy is to maintain continued and controlled growth in both jurisdictions, without compromising the ability to deliver services as promised.

"The primary objective of SPES is to provide our clients with the best private equity management and fund administration services available. This is achieved through a combination of recruiting and retaining top quality people, utilising industry-leading systems and emphasising strong internal controls," said Mrs Walker.

"In particular, our focus to hire and retain a dedicated team of qualified professionals. I believe that this, together with our hands-on approach, bespoke service and robust systems, is why we won the award."

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