Taurus Administration Services, a Spain-based fund administration company, has acquired the PFS-PAXUS share registry and fund accounting platform from Pacific Fund Systems in a bid to tap into the European market.
Taurus, a subsidiary of Managing Partners Group (MPG), will focus on start-ups or funds with less than $100m often considered too small by the larger fund administrators.
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The company has been selected as administrator to three alternative investment funds and grew its assets under administration over the past two years from $80m to $192m across 11 funds.
Taurus, which has offices in Madrid, Geneva and the Cayman Islands, is planning to open a new office in Europe in 2016.
MPG chief financial officer Nicholas Calleja said: "The selection of PFS-PAXUS has been mainly due to the integrated nature of the system where the share registry is fully integrated with the system’s general ledger.
"We are focused on growing our business and in deploying PFS-PAXUS we are confident that this strategic decision will assist us in doing so."
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