European financial administration business Carey Group has launched a new specialist fund administration business in the Isle of Man.

The new operation, Carey Commercial (Isle of Man) Limited, is led by Kevin Doyle and Robert Quane, two experienced Directors in both the alternative and traditional fund administration industry.

Carey Commercial will provide dedicated fund services to private equity, alternative asset and property funds, as well as fund of funds and other collective investment vehicles.

A comprehensive offering will guide clients through the initial concept stage to launch with an ongoing regular service delivery of quality reports and prompt service to customers.

'Core Values'

Kevin Doyle, Managing Director, said: 'We have experienced and dedicated people working in partnership with clients building strong relationships and a return to core service delivery values.

'We recognise the need for robust yet adaptable solutions in order to deal with rapid changes in the expectations of investors and asset managers operating in new market conditions where transparency, timely and accurate reporting are key to confidence.'

The Isle of Man office will work with the other Carey Group offices in key fund locations, such as Luxemburg and Guernsey, to allow multijurisdictional structures to be administered cost effectively.

Excellent Opportunities

Kevin McAuliffe, Executive Chairman of Carey Group, added: 'We are delighted to announce this development as part of the continued growth of the Group. We believe the Isle of Man offers excellent growth opportunities as a fund administration centre'.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.