HC Global Fund Services: 2024 Year in Review
HC Global is thankful to all our clients, partners and the HCG team for 2024. We are proud to share HC Global has had a successful 2024, in line with our clients and the markets.
We remain strategy agnostics in our services in the ALTs space, this strategy has helped us grow consistently over the years.
We took our global headcount to 740 strong, total clients to 425, total AUA to $42bb as of yearend.
We are now registered in Singapore and look forward to expanding our footprint. Whether it was growing our customer base, reaching a revenue goal, or expanding into new markets, we made serious progress.
Like any year, there were obstacles—whether big or small, however we adapted, learned, and kept moving forward. Hearing from our clients about how our team and services have made a difference has been incredibly rewarding. That’s why we do what we do!
Continued Global Expansion
HCG’s footprint in North America is both extensive and strategic, providing client coverage and ease of access to HCG services and Client Relationship Managers. The company has established points of presence in major cities, including:
- New York: As a global financial hub, New York provides HCG with unparalleled access to financial markets and business opportunities.
- San Francisco: Known for its tech-savvy environment, San Francisco is the perfect location for HCG to tap into cutting-edge technological advancements.
- Denver: With its central location, Denver offers logistical advantages and a growing business community.
- Los Angeles: As a major cultural and economic center, Los Angeles allows HCG to connect with a diverse range of industries.
- British Virgin Islands: This location provides HCG with strategic advantages in terms of tax efficiency and international business operations.
- Toronto: As one of Canada’s largest cities, Toronto offers a robust business environment and access to North American markets.
Expanding Operations in India
- Mumbai: As the financial capital of India, Mumbai offers HCG access to a dynamic business environment and a wealth of opportunities.
- Hyderabad : City of Hyderabad is key to our success and growth as it emerges as the next financial center in India
Expanding Operations in the Philippines
To ensure diversity and redundancy in its operations, HCG has established a strong presence in the Philippines, which serves as the core base of our service delivery. The company operates in seven key locations:
- Makati: As the financial center of the Philippines, Makati is a prime location for HCG’s business operations.
- Mandaluyong: Known for its commercial and business districts, Mandaluyong offers a strategic advantage for HCG.
- Pampanga: With its growing economy, Pampanga provides HCG with opportunities for expansion and growth.
- Batangas: This location offers logistical advantages and access to key markets in the region.
- Bacolod: Known for its vibrant business community, Bacolod is a strategic location for HCG’s operations.
- Iloilo: With its rich cultural heritage and growing economy, Iloilo is an important location for HCG.
- Davao: As one of the largest cities in the Philippines, Davao offers a strategic advantage for HCG’s operations.
The Philippines & India provides HCG with access to a wealth of energized, highly competent, and professional talents for fund administration, tax services, financial statement preparation services, and back-office business solutions services.
New Presence in Singapore
HCG has recently opened a point of presence in Singapore to better serve fund managers in the region. This strategic move allows HCG to provide localized support and enhance its service offerings in one of Asia’s leading financial hubs.
Innovation & Technology
- A Strong Presence at Global Conferences
HC Global continues to partner with organizations like CalALTs, HFC, MFA and others. We attended, hosted, and participated in many conferences in 2024. This gave us the opportunity to meet new and existing clients, partners and counterparties.
To mention a few:
- Greenwich Economic Forum in CT
- GAIM OPS West in SoCal
- GAIM OPS Cayman
- ALTsSV and ALTsLA in California
- Women’s Private Equity Summit in LA
- SF Funds Week in SF
- iConnections in Miami
- SOHN 2024 in SF
- iiUSA EB-5 in Atlanta
Looking Ahead to 2025
We are excited about 2025, as we grow the team, service lines, clients and our global footprint. We plan on opening a new office in Las Vegas, NV in 2025.
We continue to look at Europe, Asia and the Middle East as we expand our client base. We are constantly looking at new technology, changes and the AI space to make sure we implement and evolve with them. This has been our top goals for 2024 and 2025.
2025 is all about focus, growth, innovation, client experience, etc.
A Huge Thank You – To our team, clients, partners, and friends—you’ve made this year what it was. Your hard work, trust, and support mean everything. Here’s to an even bigger and better 2025!
Stay connected with us on LinkedIn for the latest updates and or feel free to reach to us anytime: Email: [email protected] Tel: 415-796-7520
SEC Announces Cyber and Emerging Technologies Unit to Protect Retail Investors
The SEC’s Cyber and Emerging Technologies Unit (CETU) formation recent announcement outlines changes and priorities that will impact the alternative investment space. While its primary objective is to root out bad actors in the emerging technologies space, fund managers will also likely be subject to increased regulatory scrutiny, necessitating robust compliance frameworks. However, firms with strong cybersecurity, data governance, compliance and transparency practices may gain a competitive advantage. Maintaining operational resilience in the face of evolving cyber threats will continue to be a challenge, but by investing in advanced cybersecurity measures, firms can improve investor confidence and operational stability.It is essential to have comprehensive cybersecurity policies covering data protection, incident response, and regular audits. Conducting thorough due diligence and continuous monitoring of third-party vendors will help mitigate risks, while regularly training employees on cybersecurity best practices and phishing prevention will enhance overall security.Looking ahead, the CETU’s focus should be expected to lead to higher cybersecurity standards across the industry. Increased enforcement actions are anticipated against firms not complying with SEC regulations, underscoring the importance of proactive compliance. Additionally, there may be an increase in innovative cybersecurity solutions as firms strive to meet the SEC’s stringent requirements.
Apis & Heritage Capital Raises $58.1m for Fund to Help Workers of Color Become Business Owners
The fund is focused on helping low income workers and workers of color to become owners/operators of businesses.
Iris Dorbian – December 22 2022
The fund’s investors include investors include The Rockefeller Foundation’s Zero Gap Fund, The Ford Foundation, The W. K. Kellogg Foundation, The Skoll Foundation, Gary Community Ventures, The Robert Wood Johnson Foundation and Fresh Pond Capital
HC Global Fund Services is serving as the fund’s administrator
A&H is headquartered in Washington, DC
Black-led investment fund Apis & Heritage Capital has closed its inaugural flagship Legacy Fund I at $58.1 million, beating its initial cap of $50 million.
The fund is focused on helping low income workers and workers of color to become owners/operators of businesses.
“The whole A&H team is humbled by the outpouring of interest and support from the investment community for our novel approach,” said Todd Leverette, A&H founding partner, in a statement. “We are trying to create a better path for employees, especially workers of color, to gain from their own hard work and innovation, while also building great small companies into great bigger companies. We are deeply grateful to our institutional investors and individuals for believing in our team and our model, and are only sorry that we could not accommodate every investor who wanted to be a part of Legacy Fund I.”
A&H’s Legacy Fund I’s investors include The Rockefeller Foundation’s Zero Gap Fund, The Ford Foundation, The W. K. Kellogg Foundation, The Skoll Foundation, Gary Community Ventures, The Robert Wood Johnson
Foundation, Fresh Pond Capital and Reynders, McVeigh Capital Management, Spring Point Partners, Sorenson Impact Foundation, Candide Group and Ascension Investment Management.
HC Global Fund Services is serving as the fund’s administrator.
A&H is headquartered in Washington, D.C.
HC Global Fund Services Achieves Growth Milestones
Fund Administrator Opens New Toronto Office, Expands Workforce and Reaches Over $10 Billion in Client AuA
HC Global Fund Services, a San Francisco-based fund administrator, is pleased to announce the opening of a new Toronto office, a workforce of over 150 people and Assets under Administration (AuA) now exceeding $10 billion.
“At HC Global our goal has always been to be more than a service provider. Our talented professionals are all devoted to providing superior service at every stage of our client’s development,” said Ghufran Rizvi, COO of HC Global. “We are delighted to announce our new office in Toronto, hitting the $10bb AuA mark and growing our team to over 150 people strong.”
“HC Global has seen solid growth year of year since the company was founded. We continue to recruit the best and brightest talent to ensure that we maintain the exceptional level of service that our clients rely on,” said Nick Pasco, Founder and Managing Director of HC Global. “Today HC Global is actively seeking talent in San Francisco, Manila and Toronto. Our next goal on the horizon will be launching a new office in BVI.”
“We are delighted to have launched a new HC Global office in Toronto earlier this year. Our local team is comprised of highly accomplished professionals with proven experience from Big 4 accounting firms and other fund administrators. This recent expansion has strengthened HC Global’s East Coast coverage, and we’re planning further expansion in the months ahead,” said Cha Quilantang, Managing Partner of HC Global’s Toronto office.
About HC Global Fund Services
HC Global Fund Services, LLC is a leading fund administrator based in San Francisco with additional offices in Los Angeles, New York, Manila and Toronto. HC Global was founded on a commitment to deliver excellent quality work and valuable service to its clients. The firm’s principals have over 120 years of combined experience in the financial and alternative investment industries. This depth of knowledge provides the firm with strong technical and analytical skills to provide fund services, tax and consulting services to hedge fund managers, private equity and venture capital funds, funds of funds, lending funds, real estate funds, family offices and investment advisors.
