Fund Depositary Services
Independent fund depositary services for alternative investment funds, delivering asset safekeeping, cash flow monitoring, and AIFMD oversight.
$300bn+
Assets under administration
950+
Funds under depositary
What are Depositary Services?
Depositary services are independent regulatory oversight functions that include asset safekeeping, cash flow monitoring, and ongoing supervision of fund operations.
Required under the Alternative Investment Fund Managers Directive (AIFMD), these services are designed to protect investors and ensure that alternative investment funds operate in accordance with applicable legal and regulatory requirements.
Why partner with Alter Domus for Depositary Services?
At Alter Domus, we specialize in providing independent, fully regulated depositary services across Europe. Our end-to-end depositary services are exclusively tailored to support Alternative Investment Fund Managers (AIFMs) in meeting their obligations under the AIFMD.
With licensed entities in key financial jurisdictions, our depositary network spans Luxembourg, Malta, Ireland, and the United Kingdom and delivers tailored depositary oversight for a broad spectrum of alternative investment funds, including private equity, real estate, infrastructure, private debt, and fund-of-funds (FoFs).
Comprehensive Depositary Solutions for alternative investments
Our depositary services are part of an integrated solution that brings fund administration, SPV management, and compliance services together under one roof – delivering investor protection and ensuring full regulatory compliance through:
Cash Flow Monitoring
- Overview of all movements of the Alternative Investment Fund (AIF)
- Pre-trade controls of investment proposals
- Monitoring of discrepancies and related corrective measures
Asset Verification and Safekeeping
- Record keeping
- Ownership verification
- Due diligence and monitoring any third-party appointed by the AIF or AIFM
Oversight of fund operations
- Timely settlement of transactions
- Income distribution
- Subscriptions and redemptions
- Valuation of assets and shares/unites
- Investment compliance
Regulatory Reporting
- Timely and accurate reporting to regulatory stakeholders
Depositary Services Across Key European Jurisdictions
Our deep understanding of regional regulatory frameworks enables us to deliver consistent, high-quality depositary services tailored to the specific requirements of each jurisdiction, ensuring seamless support for cross-boarder fund structures and alternative asset strategies.
Luxembourg (CSSF)
A leading hub for alternative investment funds, we provide depositary services for complex structures backed by deep local regulatory insight.
Ireland (CBI)
Our Central Bank of Ireland-authorized entity supports Irish-domiciled AIFs with tailored oversight, asset monitoring, and compliance aligned with AIFMD requirements.
Malta (MFSA)
As a regulated depositary under the MFSA, we deliver hands-on support for Maltese alternative investment vehicles, with a strong understanding of the local market.
United Kingdom (FCA)
Our UK depositary services are designed to help AIFMs navigate the post-Brexit regulatory framework while maintaining robust investor protection standards.
AIFM Services Luxembourg
AIFM Requirements in Luxembourg
Every European alternative investment fund must be managed by an authorized Alternative Investment Fund Manager (AIFM) to ensure proper oversight, risk management, and regulatory compliance. Establishing your own AIFM in Luxembourg can be complex, resource-intensive, and costly — particularly when navigating CSSF requirements and ongoing reporting obligations. Partnering with Alter Domus provides end-to-end support, from fund structuring and launch to risk oversight and regulatory reporting, allowing you to focus on fundraising and delivering performance. Domiciling in Luxembourg also enables non-European managers to access EU investors through passporting rights.
Bespoke AIFM services, from onboarding to business-as-usual
Domicile in Luxembourg for EU market access reach
Gain efficient and cost-effective access to European fundraising and distribution through our fully authorized Luxembourg AIFM platform
Turnkey pre-launch support
Accelerate time-to-market with expert guidance on fund structuring (SIF, RAIF, SICAV, SCSp and more), regulatory approvals, and operational setup.
Pre-marketing and investor engagement
We support compliant pre-marketing initiatives, facilitating early-stage discussions with prospective EU investors.
Regulatory risk management
Ensure full compliance with AIFMD, SFDR, CSSF requirements, and ongoing regulatory reporting obligations — supported by independent risk oversight and governance frameworks.
Build a sustainable future in Luxembourg
Get in touch with our Luxembourg AIFM specialists
Whether you are launching your first European fund or expanding into the EU market, our Luxembourg AIFM team can help you structure, launch, and scale with confidence.
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AIFM Services
Unlock access to European LPs, with faster compliance and less regulatory risk thanks to our AIF Management Services
$105bn
260+
2
Alternative Investment Funds and AIFM Oversight
Alternative investment funds (AIFs) are collective investment structures used by alternative investment managers to pursue a range of investment strategies, including private equity, venture capital, private credit, and real assets. Under the AIFMD regulatory framework, each AIF must appoint an alternative investment fund manager (AIFM) responsible for portfolio oversight, risk management, and regulatory compliance.
Streamlining AIFMD Compliance
The Alternative Investment Fund Manager Directive (AIFMD) requires EU domiciled AIFs, as well as certain non EU alternative investment funds marketed in the EU, to appoint an authorised AIFM. Operating under a third party AIFM model allows managers to meet these obligations without establishing an in-house AIFM. This approach can reduce time to market while maintaining the regulatory substance required under the AIFMD.
Unlock access to European investors with AIFM Services
Europe is expected to remain a key growth market for alternative assets. For non-European fund managers, a European-domiciled and EU compliant fund structure provides a recognised route to accessing investors within the European Economic Area.
Our AIFM services support managers from pre-launch through ongoing marketing and distribution, helping you reach EU professional investors efficiently.
How our AIFM Services operate
Our AIFM specialist teams perform their work across three key areas of attention:
Portfolio Management
We offer delegated or retained portfolio management services to EU and non-EU regulated managers or investment advisors.
- Deal tracking and investment analysis
- Pre-trade controls of investment proposals
- Due diligence of specific products and funds
- Review of asset management structures within investment guidelines
- Placement of orders and administration of trade and compliance systems
Risk Management
We ensure your compliance with regulations such as SFDR and fund delegate requirements, minimizing risks and enhancing investor trust.
- Fund and investor risk identification
- Measurement of risk
- Risk limit proposals and control
- Set-up of risk management tools
- Investment policy control
- Breach detection and escalation process
Marketing and Distribution
We’ll help you expand your reach to EU investors, while ensuring materials comply with set guidelines.
- Notification of new distribution country
- Legal fund document updates
- Host country reporting
- Regulator register review
Services related to AIFM Services
Fund Administration
Streamlining day-to-day back-office activities from fund accounting to investor reporting, and beyond.
Depositary Services
Effective oversight, monitoring, and safekeeping of your fund’s assets to fulfill your obligations.
Corporate Services
Tailored solutions that cover all stages of the entity lifecycle, from establishment to SPV administration.
AIFMs Explained: Core Duties and Rules
Explore the the role of the AIFM within the AIFMD framework and how it supports transparency, control, and investor protection across alternative investment structures.
Our AIFM Services content
Pre-marketing – a compelling solution to EU capital raising
ELTIF 2.0 Key considerations and addressing challenges
The search for new capital and the emergence of hybrid funds
Service Overview
Alternative investment and fund services for your fund operations
Alter Domus provides end-to-end alternative fund services for fund managers navigating complex markets.
From fund administration to regulatory compliance and investor servicing, our integrated investment fund services supports every stage of your lifecycle—so you can scale efficiently, reduce risk, and focus on performance.
In-house administration requires extensive knowledge, investment in resources, and the right technology. When you partner with Alter Domus, you gain a trusted investment fund service provider with decades of experience in alternative fund servicing and a global team equipped to handle complexity at scale. We’ve got the people, processes, and systems to handle complex details and communications, ensuring you meet investor demands and remain compliant across jurisdictions.
360-degree support
Draw on global expertise
Concentrate on your competencies
Allocate resources to build your business
Leverage the right technology
Growth a trusted resource
Capital Administration Services
A scalable capital administration solution for waterfall calculations and carried interest allocations, enabling you to analyze and leverage your data.
Purpose-built capital administration for private market funds
Reporting accuracy is everything, but spreadsheets can only take you so far, especially when you’re trying to manage complicated waterfall and carry structures. Our fully automated CapAssure platform provides a deeper understanding of your financial processes, with advanced reporting at the portfolio, investor, deal, GP member, or even tax lot level. Our Capital Administration team has onboarded more than 150 funds from $150M to $20B in assets under management.
Why our capital administration stands apart
Ensure accuracy and audit-readiness
Tailored waterfall calculations and carry plan allocation recommendations
Powerful forecasting and analysis
Faster onboarding and implementation
Transparent, drill-down reporting
Proven, scalable savings
Dedicated service throughout the lifecycle
Capabilities that streamline private market fund operations
Discuss your capital administration needs with our team
Contact us today to learn more about Alter Domus’ Capital Administration services.
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Transfer Pricing Services
Practical compliance, specialized expertise, and rapid delivery across jurisdictions
2,500+
30+
20+
What our Clients say:
Why Transfer Pricing is critical for Alternatives
Transfer pricing obligations affect every stage of the investment lifecycle. From fund structuring and refinancing to acquisitions and exits, documentation must not only comply with OECD BEPS rules but also withstand scrutiny from local tax authorities.
Without the right support, managers face:
Reduced investor returns from inefficient structures or incorrect valuations
Costly penalties and adjustments if reports are incomplete or late
Transaction delays when documentation is missing at closing
Why Partner with Alter Domus
Alter Domus combines deep technical knowledge with practical delivery tailored to the needs of alternative investments:
- Specialized Expertise: team dedicated exclusively to alternatives, ensuring strategies are designed for real estate, private equity, private credit, and debt structures.
- Proven Delivery: Reports delivered within three weeks as standard, with urgent cases completed in as little as 24–48 hours, giving managers confidence that deadlines won’t derail critical transactions.
- Trusted Partnerships: Collaboration with a network of leading tax law firms across Europe to provide full compliance coverage across jurisdictions.
- Transparent Pricing: Predictable fee structures with no hidden costs, so managers can budget with certainty.
Our transfer pricing services are designed around the real needs of alternative investment managers. Focused on the most critical compliance requirements, we provide specialized solutions that keep structures compliant, transactions efficient, and stakeholders confident.
Our Core Transfer Pricing Services
Interest Rate Benchmarking Analyses
- Provide cross-jurisdictional benchmarking of intercompany financing
- Deliver defensible, market aligned interest rates that meet regulator and auditor expectations
- Safeguard financing structures against penalties, tax adjustments, and delays
Equity-at-Risk and Margin Analyses
- Assess Luxembourg holding structures to ensure equity levels and margins comply with regulations
- Strengthen audit defensibility and minimize tax authority risks
- Provide investors with confidence in a complaint, sustainable capital structures
Preparation of
Local Files & Master Files
- Prepare OECD BEPS-complaint documentation across 30+ jurisdictions
- Ensure consistent fulfillment of mandatory reporting obligations
- Support audit readiness and streamline financial reporting
- Protect against penalties and compliance challenges, ensuring smooth transactions
When to Engage Us
Clients gain the most value from our transfer pricing expertise when we are involved early in the investment cycle. Engaging us before transactions are finalized allows structures to be set up on solid ground, and avoids the challenges of retroactive justification.
Acquisitions or divestments
Providing defensible documentation to support due diligence and smooth closing.
Loan refinancing
Ensuring financing terms align with market standards
Restructuring
Guiding efficient reorganizations across multiple jurisdictions.
Cross-border distributions
Minimizing risks from complex, multi-country transactions.
Audit preparation
Delivering robust reports that meet regulator and auditor review
FAQs
Do I need a transfer pricing report if I already have a fund administrator?
Yes. Fund administration does not replace transfer pricing compliance. Regulators require standalone transfer pricing documentation to demonstrate compliance with OECD and local rules. Many mangers assume their administrator covers this, but it is a separate obligation. Alter Domus provides transfer pricing reports on a standalone basis, so managers can stay compliant without changing or restructuring their existing administration setup.
How quickly can a transfer pricing report be delivered for a deal?
Transfer pricing reports are normally completed within three weeks, depending on the complexity of the structure and the availability of information. At Alter Domus, our dedicated team can accelerate delivery when deadlines are tight, ensuring compliance without compromising quality.
What are the key transfer pricing requirements for cross-border funds in Europe?
European regulators require funds with cross-border operations to maintain OECD-compliant transfer pricing documentations, typically including a master file and local files, as well as support for intercompany financing arrangements. These obligations apply regardless of who administers the fund. At Alter Domus, we prepare this documentation in line with BEPS standards and tailor it to fund structures, including SPVs, so that it withstands both local audits and investor scrutiny.
Get in touch with our Transfer Pricing Team
Contact us today to learn how Alter Domus can help you safeguard compliance, reduce risk, and keep transactions moving.
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Tax Services
High-confidence tax reporting and compliance to meet all your requirements
What are Tax Services?
With the tax regulatory landscape evolving faster than ever, compliance is a moving target. We’ll help you adhere to every requirement at the local and national level, meeting all tax return obligations accurately and on time. You won’t have to monitor the rules — we do that day-by-day. We work closely with your tax advisor and provide all the support you need to keep you in compliance. And although we don’t provide tax advice, you will have our full support if you’re ever audited.
Personalized tax support that improves efficiency and reduces risk
Remain compliant
Save time and effort
Draw on our specialist knowledge
Tax compliance made easy
Get in touch with our team
Contact us today to learn more about our Tax Services.
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Administration & Governance
Centralized, automated services to ensure compliance and minimize risk
What are Administration and Governance services?
Meeting compliance requirements and keeping your entities in good legal standing is daunting and time-consuming. Whether you’re forming or maintaining an entity, our robust governance best practices and centralized automation platform will help you better manage risk. We monitor the activities of your directors to ensure they’re meeting their fiduciary duties — or provide directors to work alongside your own.
Reliable governance services backed by corporate secretarial infrastructure
Access local teams with global expertise
Our teams know your jurisdiction and regulatory requirements, providing you with strong governance and complete compliance support.
Draw on expertise across all sectors
Our experience across all sectors, including real assets, debt, and private equity, means we understand your unique needs. You’ll have complete support from the start.
Optimize control through technology
Our advanced technology facilitates everything from data management and compliance to collaboration and KPI reporting.
Robust, automated administration and governance
Get in touch with our team
Contact us today to learn more about our Administration and Governance services.
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Cash Management Services
Dedicated payments and cash management that maximize consistency, security, and accuracy
What are Cash Management services?
Invoice and payment management is a complex and sensitive task — and we make it simple and more secure. Our user-friendly processes offer a streamlined Cash Management solution that saves time and money, and avoids the risk of manual errors, fraud, compliance issues, and security breaches. We’ll help you reduce the volume of paperwork, improve account governance, and enable audit compliance.
Saving you time and money while reducing risk
Have more control
Reduce costs
Open your bank account faster
Leverage our expertise
Concentrate on your core objectives
Reduce security risks
Optimize time and resources
Making cash management secure and efficient
Get in touch with our team
Contact us today to learn more about Alter Domus’ Cash Management services.
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Accounting & Financial Reporting
Efficient, timely, and accurate reporting to key stakeholders
What are Accounting & Financial Reporting Services?
Combining higher reporting volumes and more complexity with demands for speed, accuracy, transparency, and fund accounting can be challenging on all fund resources. Alter Domus streamlines the process through a suite of services for all alternative fund asset classes. You won’t have to worry about staffing, software, or controls. We’ve got you covered for everything from the basics of fund accounting through systems solutions for complex structures.
Transformational services so you can concentrate on opportunity
Access talent and technology
Keep your stakeholders informed
Stay fully compliant
Mitigate tax risk
Access a global network
Grow your team, not your payroll
Worry-free accounting and reporting
Get in touch with our team
Contact us today to learn more about Alter Domus’ Accounting and Financial Reporting services.
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