CINCINNATI, OHIO – October 20, 2020 – Ultimus Fund Solutions® (Ultimus®), a leading independent provider of full-service fund administration, accounting, and investor solutions, is pleased to share that it recently played a significant role in helping a new client, Primark Capital, bring an innovative fund product to market. As an interval fund that focuses on private equity, the new Primark Private Equity Investments Fund is one of the first funds that gives non-accredited retail investors access to private equity market investment opportunities. Primark Capital’s leadership is a combination of the former CEO of a $12 billion RIA and two co-founders of Red Rocks Capital, a $1.9 billion private equity fund.
Ultimus aligned with a multi-organizational team of industry professionals to help facilitate launching the new and novel fund in a Delaware statutory trust that was initially registered under the ’40 Act for accredited investors and subsequently registered under the ’33 Act for non-accredited, retail investors. Ultimus facilitated the fund launch and provides daily administration, accounting and transfer agency services, as well as board of trustees support for the fund. To service the fund, Ultimus operates on a real-time recordkeeping system which provides native capital call and tender offer processing customized by client. The advanced framework of the system allows Ultimus to quickly implement customized capabilities and develop bespoke solutions with unmatched specificity.
Primark Capital Managing Director Michael Bell said that Ultimus and the team brought the Primark Private Equity Investments Fund to market in a compressed time frame that helped Primark reach its goal of giving retail investors noteworthy access to private equity. “We have been impressed with Ultimus’ responsiveness to our complex needs and the institutional quality the company brought to bear to this project,” he said. “We knew we needed a team comprising the best industry experts we could find to bring what we feel is an unconventional type of investment opportunity to market. Working with the rest of the team and with counsel, Ultimus was instrumental in helping to deliver the product expeditiously and flawlessly.”
Gary Harris, EVP, Head of Business Development for Ultimus, said that Primark identified a unique fund strategy, then assembled a group of partners to deliver the product to market. “Primark came up with an innovative idea for tapping an increasing retail demand for private equity,” he says. “We believe the Primark Private Equity Investments Fund is a creative way to provide retail investors access to private equity investment opportunities, hopefully giving Primark a competitive advantage. We are delighted that Ultimus was chosen to work with Primark to launch the fund. We are proud of the experience and resources we have developed over the years to support and service the diverse investment strategies that can be delivered through interval and tender-offer funds.”
About Ultimus
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.
Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago and New York, Ultimus employs more than 650 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.
Disclosures
Investors should carefully consider the investment objectives, risks, and charges and expenses of the fund before investing. The prospectus contains this and other information about the fund, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling 877-792-0924.
The Shares are speculative and illiquid securities involving substantial risk of loss. An investment in the Fund is appropriate only for those investors who do not require a liquid investment, for whom an investment in the Fund does not constitute a complete investment program, and who fully understand and are capable of assuming the risks of an investment in the Fund.
