EFA Group, a Singapore-based asset manager that specializes in credit strategies, has selected Maples Fund Services, an independent global fund services provider, as administrator for its new asset-based direct lending vehicle, EFA Real Economy Income Trust (EFA RET).
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Under the deal, Maples Fund Services will provide a full range of administration services, including fund accounting and investor services for EFA RET.
In addition, Maples will offer fund administration services to EFA Group’s Trade Finance Manager Fund, which was launched in June 2015.
EFA Group head of corporate and asset-based finance Xavier de Nazelle said: "The EFA RET will provide structured, senior secured loans to mid-market companies operating along the value chains of real economy sectors and targets net total returns to investors in excess of 10% per annum.
"The trust has achieved its first close and seeks to raise US$150 million by the first half of 2017. Capital has started to be deployed in March 2016."
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By GlobalDataMaples Fund Services regional head of fund services Asia Eastern Fong said: "Our new engagement with EFA Group is a testament to our ability to deliver adaptable, highly specialised solutions to increasingly complex fund structures and asset classes."
