19 Degrees North Fund Services Ltd. ("19 North FS") is an independent, market-leading fiduciary services provider that is focused on ensuring that clients are provided with professional and timely advice based upon industry knowledge and experience.
Operating as a full service Company Manager, domiciled in the Cayman Islands, 19 North FS is licensed and regulated by the Cayman Islands Monetary Authority ("CIMA"). Scott P. Lennon, a 25 year veteran of the offshore fiduciary services industry, is the Managing Director and Principal of 19 North FS. Lisa Alexander, a fiduciary service professional with over 12 years of experience in the offshore funds industry, also serves as a Director of 19 North FS.
Scott is the former Head of Fund Services at Walkers Fund Services Limited (acquired by Intertrust) where, during his 9 year tenure, he built and managed a team of professionals that provided services to over 500 clients around the world. Scott is considered an authority in the offshore funds industry and has authored articles appearing in leading edge alternative investment publications. Scott has also participated in numerous panel discussions, speaking on corporate governance matters at prominent industry conferences.
Lisa is a former Senior Vice President at Walkers Fund Services Limited where she managed a portfolio of fund clients that spanned a wide range of strategies.
The team has assisted its clients in launching over 600 funds across all major strategies. Scott and Lisa have extensive working relationships with the major onshore and offshore law firms and the vast majority of fund administrators, prime brokers and audit firms.
Scott and Lisa have significant practical, first-hand experience in anticipating and dealing with all aspects of potential fund issues. Collectively, they have worked on over 100 plus fund liquidations, wind downs and restructurings and addressed numerous gating and suspension issues during the financial crisis. Scott and Lisa have provided fiduciary services to boutique investment funds as well as sophisticated alternative investment management groups including Bank of New York Mellon, Barclays, Blackrock, Blackstone, JP Morgan and PIMCO.
19 North FS provides the following services to offshore and, in certain circumstances, onshore affiliated entities:
- Experienced professional independent directors to fund entities
- Experienced professional independent directors to Cayman Islands domiciled investment managers
- Members to advisory boards
- Members to investment committees and valuation committees
- Independent review of principal transactions
- Principal office
- Physical presence to Cayman regulated service providers
- Review of loan origination transactions to ensure compliance with IRS Regulations
19 North FS currently provides services to a broad range of investment managers and major global institutional investors.
Our corporate governance process involves an initial in-depth review of all fund offering documents and analysis of commercial terms based on our extensive experience with other structures and current market trends.
Upon appointment, we work with the investment manager, administrator and counsel to develop appropriate and manageable board meeting agendas as well as the list of necessary reporting items that need be addressed at each board meeting.
As a regulated entity, 19 North FS is subject to oversight by CIMA, which includes regular review of the company's activities and the submission of annual audited financial statements to CIMA. 19 North FS carries a Professional Indemnity and Directors & Officers Liability insurance policy that exceeds the minimum requirements established by CIMA.
19 North FS provides uninterrupted service to clients by use of a sophisticated and robust IT infrastructure. All services are hosted on a "Microsoft Cloud" based system with full back-up capabilities located outside of the Cayman Islands to allow for complete access as a disaster recovery measure. The Directors have full access to email and company files remotely as well as having the ability to review and execute documents around the globe on a 24/7 availability.
19 North FS maintains physical offices, in the Cayman Islands, in Class "A" office space with direct fiber-optic network access and full back-up power.
Please contact us to discuss your fiduciary and corporate governance needs.