Alter Domus opens Australia office

Seeking to capitalize on a surging funds industry in Asia, Alter Domus opened a new office in Sydney, Australia.

The European-based fund services provider now has 17 offices worldwide, including Asia-Pacific posts in China, Hong Kong and Singapore.

The expansion underscores the increasing importance of the Asia-Pacific market to industry service providers. Over recent years, an increasing number of Asia-based managers have been seeking to play catch-up with best practices developed over decades in the West.

Accordingly, established service providers in the US and Europe are jockeying to capture new business in Asia by offering the latest technologies, reporting platforms and fund administration services to a growing population of managers in China, India and elsewhere in the Asia-Pacific region.

The new office will be managed by Peter Zanapalis, who was recruited from Macquarie Group, where he was an associate director specializing in agriculture and real estate credit funds.

Zanapalis will be responsible for developing the new Sydney team and building up a portfolio of clients in Australia.

“I have no doubt that Alter Domus will quickly become an important player in the financial services industry in Sydney,” Zanapalis said in a statement.