Representing the Fulcrum Group in both Bermuda and the Cayman Islands, Appleby has played a major role in the combination of Butterfield Fund Services and the Fulcrum Group.
The combined group, known as the Butterfield Fulcrum Group, now ranks amongst the top ten independent, alternative asset fund administrators globally. With over US$100 billion in assets under administration from nearly 1,000 hedge funds, fund of funds, private equity funds and institutional investment management clients, the group employs over 400 professionals, spanning ten financial centres.
Appleby’s relationship with both Butterfield Fund Services and Fulcrum Group is historic and strong in both jurisdictions and was an obvious choice to be appointed as lead Bermuda and Cayman Counsel. The team of Appleby legal advisors was lead by Peter Bubenzer, the Group’s Managing Partner. Peter was supported from Bermuda by Associates, Doug Molyneux and Andrea Moniz. Whilst the team of Cayman legal advisors comprised Senior Partner, Bruce Putterill, Partners, Sherice Arman and Nicholas Joseph and Associate, Caroline McCann. Commenting on Appleby’s involvement in the merger, Peter Bubenzer said “This combination is of major significance to the funds administration industry and we are pleased that Appleby was able to have such a sizeable and important role in this merger. This deal illustrates how clients benefit from our seamless multi-jurisdictional capabilities and we look forward to working with this combined and major independent fund administrator in the future.”