Wealth technology platform Allfunds has launched the Allfunds Alternative Solutions division.
This is following demand among its clients for better access to alternative assets and private markets.
Although Allfunds already has experience in this area and assets under administration in specialised vehicles, it was a service performed only on an on-demand basis.
Borja Largo, chief fund groups officer at Allfunds, will lead a team composed of a combination of new hires and existing Allfunds employees, who will drive the company’s growth in services related to illiquid strategies.
Allfunds Alternative Solutions will initially focus on improving operational efficiency for all investment vehicles.
Juan Alcaraz, chief executive of Allfunds, said: “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”.
This comes weeks after European investment company Euronext withdrew its €5.5bn (£4.84bn, $5.82bn) offer to acquire a 100% share capital of Allfunds.
