NAV Fund Administration Group has established a new business presence in Israel to support an increase in demand for experienced administrative services due to a resurgent local economy, increased international business presence, and rapid growth in the alternatives fund management industry in recent years.
OAKBROOK TERRACE, Ill., July 14, 2022 /PRNewswire-PRWeb/ -- NAV Fund Administration Group has established a new business presence in Israel to support an increase in demand for experienced administrative services due to a resurgent local economy, increased international business presence, and rapid growth in the alternatives fund management industry in recent years.
"We look forward to partnering with Israeli fund managers in support of the continued growth and development of the local fund management industry," said NAV Senior Vice President Manish Saraf. "NAV offers the 30+ years of global experience, industry expertise, and award-winning proprietary technology required to provide flexible, wide-ranging fund administration services at a very competitive value."
According to Reuters, Israel's economy grew at its fastest pace in 21 years in 2021 as consumer spending, exports and investment recovered from pandemic-affected 2020 with double-digit gains. The economy grew 8.1% last year, exceeding the Bank of Israel's forecast of 6.5. The Central Bureau of Statistics noted growth in Israel last year was one of the strongest globally.
Saar Weintraub, 20-year+ industry veteran and Israel resident, has been named Director of Business Development and Sales and will be based in the Center of Israel. Inquiries should be routed to +972 9 3760999 or via email at Saar [email protected]. NAV's services in Israel will be administered by NAV Consulting, Inc. or NAV Fund Services (Cayman) Ltd., depending on the jurisdiction of the fund.
"NAV has always been committed to expanding our services globally," said NAV Vice President Brooke Gottshall. "Aside from our US headquarters and four backoffice facilities in India, we also have locations in the Cayman Islands, Australia, and Singapore – with additional jurisdictional authorization in many other countries. We're equipped with the experience and technology to serve clients worldwide on a flexible basis to fit their unique needs."
About NAV Fund Administration Group
Founded in 1991, NAV is a privately owned fund administrator recognized for its innovative and cost-effective fund administration solutions. A dynamic team of more than 2,250 professionals provide services to 2,000 funds across the globe -- including hedge fund, private equity fund, and cryptocurrency fund clients -- while maintaining a 99% client retention rate. The company is headquartered in the United States, with four facilities in India supporting Back Office and Middle Office services, and locations in Australia, the Cayman Islands, and Singapore. NAV ranks among the top 10 global hedge fund administrators by number of funds, servicing more than $180 billion AUA.
Media Contact
Vicki Hunckler, NAV Fund Administration Group, 16309541919, [email protected]
SOURCE NAV Fund Administration Group
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