Trinity Fund Administration has received a full fund administrator license from the Cayman Islands Monetary Authority and is to open an office in Cayman.
Trinity’s expansion into the Cayman Islands follows strong client demand from emerging managers and provides the fund administrator with better access to the North American market, the firm said in a statement.
The boutique hedge fund solutions company provides middle and back office hedge fund administration services to investment funds worldwide. A significant portion of the business comes from funds registered in Cayman.
The new office will be a local point for firms to access Trinity’s full suite of services according to Trinity Managing Director John McCann: ‘This is a major step forward in terms of Trinity’s expansion plans.
‘We have always offered a complete suite of services to Cayman-domiciled funds and this brings us that much closer to this important component of our business’.
The fund administrator appointed Brad Cowdroy as head of the Cayman office. He will be responsible for the principal management of the North American account business and local service offerings.
Mr Cowdroy joins Trinity from Goldman Sachs Fund Administration Services. He previously held fund-related positions with CIBC and PricewaterhouseCoopers in the Cayman Islands.
‘We are absolutely delighted to have someone of Brad’s calibre and experience heading up our new Cayman office and joining the Trinity group,’ Mr McCann commented on the appointment.
‘Brad brings a wealth of experience in alternative fund servicing, as well as a broad knowledge of administrative and regulatory issues affecting our clients.
‘We have no doubt he will make a significant contribution to the organisation’s growth moving forward,’ Mr McCann said.