The Prescient Group has wholly acquired Obsidian Fund Services in Guernsey.
Effective 1 February Obsidian has become part of Prescient’s fund services arm, Prescient Fund Services. The entire Obsidian team, led by CEO Jody Newark, will be integrated into the Prescient business.
Obsidian provides a range of fund administration services from Guernsey, including fund accounting, compliance, financial reporting, governance and investor services.
The team in Guernsey will continue to provide full-service fund administration, supporting a wide range of private assets funds, including private equity, infrastructure, private credit and real estate funds. This includes help with setting up regulated investment management entities and protected cell structures.
Craig Mockford (pictured), CEO of Prescient Fund Services, commented: “Guernsey is a leading jurisdiction for private equity and other private assets funds, and it makes enormous sense for Prescient Fund Services to have a presence on the island, working with an established and respected team like that at Obsidian. We are confident that this partnership will bring new opportunities for Prescient Fund Services and our wider client base as we continue to build on our global private equity capabilities.”
Jody Newark, CEO of Obsidian added: “This is an exciting new development for our clients as we join a larger fund administration group which shares our values. We look forward to continuing to deliver the same high level of service to our customers under the Prescient brand.”
