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Family office client transitions from SFO to MFO with end-to-end support

28 Dec 2023

The client, their challenge

The client is a London-based single family office (SFO) who wanted to transition to a multi-family office (MFO) and invest in private markets both directly and indirectly.

Our solution

Initially, the client came to IQ-EQ to discuss their regulatory requirements, which our UK Regulatory Compliance team has since supported. The founding family was then looking to structure a European private investment vehicle, and IQ-EQ Luxembourg was able to provide the required corporate administration services, including the provision of company directors and a company secretary as well as conducting all the appropriate filings.

After that, it was decided that the founding family would structure a hybrid fund, partly with new funds and partly by transferring in the Luxembourg companies. The hybrid fund invests both in private and public markets. As the newly evolved MFO did not have any prior experience in setting up a fund, IQ-EQ supported them with the legal and tax process by working closely with the MFO’s lawyers.

IQ-EQ then established the requested structures: a Jersey private fund (JPF) with a Cayman feeder fund to cater to U.S.-based investors that the MFO hoped to attract. IQ-EQ’s Jersey and Cayman teams provided fund administration services. The client is also using IQ-EQ Cosmos for fund reporting and MaxComplyTM for investor onboarding.

The results

With IQ-EQ’s support, the client was able to successfully execute their strategy to move from a SFO to an MFO. They were not experienced in fund formation or administration, so we provided hands-on guidance to get to a successful launch. Our uniquely comprehensive offering also meant we were able to provide complementary services harnessing our proprietary tech platforms.

Working with IQ-EQ has been seamless – you and your team understand our business, advise us appropriately, and handle your side of our collective partnership so that we can focus on making good investment decisions. Evan Gibson SVP, Merchants Capital

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