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Tuesday, 24 January 2017
Last updated 5 hours ago
Jan 7 2013 | 9:31am ET
New year, new hedge fund administration firm.
Apex Fund Services vets Vince Sarullo and Kinjal Amin have launched Tower Fund Services, an independent third-party administrator providing a “full spectrum of tailored outsourced solutions” for hedge funds, funds of funds, multi-manager platforms, private equity, venture capital and real estate funds.
New York-based Tower will offer fund startup, accounting, valuation, reporting and tax services to alternative investment managers in all strategies and structures.
Sarullo, who serves as managing director of Tower, has over 20 years' experience in the financial services industry, most recently with Apex whose U.S. operations he established in 2008. Prior to Apex, he served as CFO/CCO for Terrapin Asset Management and before that he spent over a decade as CFO for private equity firms Butler Capital and Odyssey Investment Partners.
Amin, also a Tower managing director, had been director of operations at Apex's Florida office, responsible for on-boarding, preparing, and reviewing accounting and tax work for over 75 alternative investment funds. Prior to Apex, he served as a supervisor at a boutique tax and advisory firm and in audit and litigation services for two top-tier public accounting firms.
Said Sarullo in a statement: “No one in the investment management industry needs reminding that there has never been greater external pressure being placed upon it. Fund managers in all asset classes face an enormous challenge to keep up to date with the wave of local, regional and global legal and regulatory requirements that have been imposed since the international financial crisis, in addition to traditional anti-money-laundering and know-your-client regulations. Nor does anyone need reminding that the pressure shows no signs of abating any time soon.”