Praxis has re-entered the Jersey fund administration market after securing its Jersey Fund Services Business Licence.
Praxis previously built a successful global funds division focused on large institutional and listed funds, which was sold in 2021. The Group’s re-entry into the funds market is a strategic move designed to meet the growing demand for high-quality, independent administration services and expand on the Jersey Private Funds already being serviced under its trustee licence.
Ava Fairclough, Group Head of Corporate & Funds at Praxis, said: “Receiving our FSB Licence marks a pivotal moment for Praxis as we strengthen our fund administration capabilities.
“In an increasingly consolidated market, clients tell us they want more than scale – they want partners who know them, understand their ambitions, and respond with agility. That’s exactly what Praxis delivers. With a highly experienced team and a commitment to innovation, combined with our 50-year pedigree in the private wealth space, we look forward to delivering exceptional service in fund administration, with a core focus on UHNWIs, families and family offices along with start-ups, emerging fund managers, and small to mid-cap promoters.”
The local team is led by Gavin Carruthers (pictured), who has over 20 years of experience in offshore financial services with a focus on funds, corporate, real estate and structured finance. Before joining Praxis, Gavin held senior roles as head of fund administration services for international fiduciary providers and has served as a director of private equity, venture capital and real estate funds in Jersey and the Cayman Islands.
Commenting on the launch, Gavin said: “Praxis’ return to the Jersey funds market marks an exciting new chapter in our offering. Our combination of industry leading expertise, innovative technology and a client-first approach ensures we can support fund managers and investors across the entire fund lifecycle.
“The emerging and mid-sized fund managers we work with want a partner who grows with them. By combining deep experience with tailored solutions, Praxis offers the responsiveness and bespoke service that can make the critical difference.”
