Mourant on the move in New York

05/01/2006

Mourant has announced the signing of a lease in New York for a new and larger office. The new premises are located on the 15th Floor of the Fisk Building, at 250 West 57th Street and will house Mourant’s US fund administration division, which will be moving from its current offices in 1560 Broadway.

Mourant is a full-service third party fund administrator, providing accounting, reporting, tax compliance, cash management, and corporate secretarial services to the private equity and real estate asset class. Mourant administers over $70 billion in these asset classes across its offices in London, New York, Luxembourg, Jersey, Guernsey, and the Cayman Islands. Mourant launched its US fund administration division in February 2005. Over the past ten months, the division has won mandates to administer almost $4 billion in primary funds and increased staff to 10, with an expectation of 12 to 15 staff by early 2006. Steven Davidson, Managing Director of Mourant’s New York office, said: "We are thrilled about the move. The lease, coupled with the early success we have had in obtaining clients and attracting high-quality staff, clearly indicates that we are a serious, long-term player in this jurisdiction. We believe that the Fisk Building will help us quickly adapt to any changing client needs." Robert Short, Mourant’s Head of Global Business Development for the Funds divisions, said: "We are delighted with the progress of the US operation and see huge potential to offer US clients not just a very high quality domestic service but also allowing global US funds access to our European infrastructure. Our goal is to provide seamless, cross jurisdictional services to both the private equity and real estate fund industry and we believe that the high quality, specialised group in New York fits in well with our global offering".