The client, their challenge
Our client, a global top-tier U.S. bank with significant assets under administration, launched an open-ended evergreen debt fund in 2024, targeting French wealth management advisors and distributors in the B2C segment. The fund structured as a semi-liquid vehicle with high investor volume and multi-channel distribution and is invested in one of the world’s top three private debt managers.
Given the complexity of the fund’s structure and its regulatory obligations under French and European frameworks, the client required a robust operational and governance setup. They needed a licensed third-party alternative investment fund manager (AIFM) to assume regulatory responsibility, alongside independent valuation and central administration capabilities to ensure transparency, investor protection and operational efficiency.
The challenge lay in delivering institutional-grade oversight and infrastructure without building an in-house team in France, while maintaining agility and scalability across a high-volume, evergreen structure.
Our solution
IQ-EQ France was appointed in July 2024 to deliver a comprehensive suite of services, including:
- Third-party AIFM: Assuming full regulatory responsibility for the fund, including risk management, compliance and oversight of delegated functions
- Central administration: Managing fund accounting, NAV calculation, investor reporting and operational coordination across service providers
- Independent valuation: Providing objective valuation of underlying assets to ensure transparency and regulatory alignment
Our integrated model allowed the client to launch and scale the fund without establishing a local footprint, while benefiting from deep regulatory expertise and operational excellence.
Results
- Enabled the successful launch of a complex evergreen debt fund tailored to French B2C distribution channels
- Delivered full regulatory coverage and operational support without requiring the client to build local infrastructure
- Ensured investor confidence through independent valuation and transparent reporting
- Provided scalable support for a high-volume, multi-distributed fund structure, positioning the client for long-term growth in the European market
