The Luxembourg Alternative Administrators Association (L3A) is pleased to welcome Carne Group as a new Associate Member.
Read this short interview of Richard Marshall, Managing Director.
1° Can you outline the history and activity of your company in a few words?
Carne Group is one of the largest open architecture independent Management Companies in Europe, with AUM in Luxembourg of 118Bln Euros.
We have active clients in all alternative strategies asset classes and employee around 160 industry professionals who are dedicated to our Luxembourg business.
2° You have recently decided to join L3A - what are the key reasons behind this?
As an open architecture Management Company with well over 30 delegation arrangements to Fund Administration firms connectivity to these firms plays a very important part in our business model.
We find as a firm that our clients want effective operating models and our connectivity and relationship with Fund Admins is incredibly important.
We see L3A as fantastic vehicle to help us better understand common challenges the industry can, and will in future, face.
3° What do you believe you can offer to L3A and the alternative administrator provider ecosystem?
As one of the largest Management Companies in Luxembourg we have a large employee foot print in Luxembourg and our employees take an active role in the industry.
We are constantly monitoring industry change and developments and we believe we can bring deep expertise to the L3A to assist it with its work and deliberations.
4° What do you see as the greatest opportunities offered by Luxembourg in the alternative administrator provider market? What are the main challenges to be tackled in order to capitalise on these opportunities?
Carne Group Luxembourg has for a number of years been the fastest growing unit within Carne Group which is reflective of Luxembourg being the jurisdiction of choice for a large number of Alternative Asset Managers seeking to raise capital from EU investors.
We are incredibly optimistic for the years ahead in that we believe that this trend will continue and that a large amount of capital is still to be raised.
There are obviously large Macro elements which will drive that, such as the transition to net zero. Regulatory driven change can sometimes be viewed as a challenge but we see this more in the sense it will require solutions for our clients where bodies like the L3A will play a key role in making this as seamless as possible for our common clients.