Tánaiste announces over 50 new jobs for Sligo by Equinoxe AIS

New hedge fund office expands company’s Irish operation

Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan TD today (Monday, 5^th October, 2009) announced that Equinoxe AIS, a provider of administration services to the hedge fund industry, is to expand its Irish operation with the establishment of a new asset servicing operation in Sligo, which will employ over 50 people over three years, with the potential for further growth as the operation develops. Supported by Government through IDA Ireland, it will initially locate at The Innovation Centre at the Institute of Technology Sligo (IT Sligo). Equinoxe’s existing Irish operation – Equinoxe AIS Ireland – located in Malahide, Co Dublin, is the company’s European Headquarters servicing the EMEA markets.

Equinoxe selected Sligo for the growth of its EMEA asset servicing business in order to continue to provide premium service to clients in their own time zone, leveraging the strong talent pool in the financial services sector in Ireland. The Sligo operation is being established as the primary back office servicing arm of Equinoxe EMEA covering all activities, offering growth in addition to Malahide which will be a full service office, but also focus on the sales and marketing activities.

Welcoming the investment the Tánaiste said “This is excellent news for Sligo and is a major further endorsement of the North-West Region as a location for International Financial Services operations, which is already ‘home’ to a number of significant players in the IFS industry. Sligo was selected as it meets Equinoxe’s needs in terms of access to suitably qualified staff; easy access to the Dublin office, will allow the company to reduce its overall cost base, and has the academic institution, IT Sligo, which is working with Equinoxe to assist with its growth in the region.”

Equinoxe provides comprehensive services to the global hedge fund community, with its current business comprising of primarily hedge funds domiciled in Bermuda, Cayman Islands, BVI and Ireland. It offers fund structuring, set up, assistance in independent hedge fund creation, hedge fund administration, portfolio accounting and valuation, shareholder servicing, accounting, audit and tax services and directorial and secretarial services. Tailoring its solution to meet client needs, Equinoxe has grown quickly into a recognised and respected firm in its selected arena.

Stephen Castree, Chief Executive Officer, said “Our experience of the start-up and development of our Dublin office, and its success to-date, was a major influence on our decision to locate this further investment in Ireland. The country’s highly respected reputation and track-record of achievements in global financial services was a major consideration in 2007 when we first selected Ireland. These attributes have proven to be valuable in the development of our business and we are again confident that Ireland and in particular Sligo, will see this expansion successfully perform to our stringent targets and contribute significantly to the further growth of our global business.”

“The strong regulatory regime and the support that the Government continues to give the financial services community in Ireland provides an excellent base for us to grow our European business. We are also very excited about the opportunity of working with Institute of Technology Sligo, their current and future student body, and members of the academic staff as they continue to develop their focussed courses on Financial Services,” added Mr. Castree.

ENDS/ETE2119

Note for Editors

About Equinoxe AIS

Equinoxe AIS is headquartered in Bermuda and has $2.3 billion in assets under administration and 37 funds with 19 clients. The company’s principals are well experienced financial services professionals, having been involved in the creation of over 200 hedge funds, the servicing of over $20 billion in assets and the management of company growth from inception to more than 250 people.

Equinoxe’s Irish operation

Equinoxe’s existing Irish operation, located at Malahide, Co Dublin, is the company’s European Headquarters and was established in December 2007. It currently employs 10 people servicing the EMEA market and carries out a range of activities which include fund structuring and creation assistance; portfolio accounting and valuation; shareholder servicing; accounting/audit and US tax planning.