Duties and formalism in TA standard operations for AIFs

Over the past years, the landscape of the investment fund industry has been reshaping itself, adapting to the evolving needs and expectations of investors and distributors. Along with that shift have come changes in the way the transfer agents operate, organise, manage risk, implement regulations and interact with other stakeholders of the investment funds value chain.

This introductory course will help you to refresh and/or enhance your knowledge in transfer agency operations, focusing on the Alternative Investment Funds (AIFs) industry. While highlighting the key concepts with some examples, our training will prepare you to understand and perform your transfer agent tasks and responsibilities efficiently, in line with the Luxembourg alternative funds market practices.

For dedicated delivery, the course can include concrete use cases for equalisation and waterfall models.

By the end of this training, participants will be able to:

• understand the main operational processes of a transfer agent;
• understand the AIF's lifecycle;
• understand the transfer agency ecosystem;
• understand the different types of transfer agent operations including waterfall and equalisation processes.

1. Recap of the typical AIF's lifecycle
2. Transfer agency ecosystem in the AIF industry (including responsibilities of the registrars)
3. Transfer agent standard operations and alternative funds operations:

• Commitment management
• Capital calls
• Distributions (incl. recallable)
• Redemptions
• Switch/transfer
• Equalisation
• Capital account statement (including ILPA reports)
• Different types of fees
• Waterfall (including quick refresh on the different types of Waterfall and components)

This training is coordinated by Kai Braun, Advisory Partners in the Alternatives industry at PwC Luxembourg, and will be given by directors who benefit from a strong professional experience in this area.

Kai, Alternatives Advisory Leader at PwC Luxembourg, has over 19 years of experience in the alternative investment sector, both as a consultant and within the industry, where he was working as Head of operations of a leading German service provider to the private equity and real estate industries.