Praxis secures FCA authorisation for UK CIS Operator services

Praxis has received authorisation from the Financial Conduct Authority (FCA) to act as an Operator of unauthorised collective investment schemes (CIS), expanding its UK offering for private capital, real estate and joint investment structures. 

An Operator is responsible for the running and oversight of a CIS, maintaining its governance framework and overseeing appointed service providers, delegates and investor servicing arrangements. 

CIS considerations can arise in arrangements not originally conceived as conventional funds, including limited partnerships, joint investment arrangements and structures involving related special purpose vehicles. 

Praxis will provide Operator services for UK CIS structures involving professional clients and eligible counterparties. The service spans establishment through to wind-up, covering governance and operational oversight, appointed delegates and service providers, and investor servicing arrangements. 

The authorisation adds to Praxis’ existing corporate, fund administration and private wealth capabilities, enabling the Group to coordinate support for sponsors, asset managers and their advisers across jurisdictions. 

Joshua Gallienne, Senior Executive Director, said: “We work with sponsors and their advisers to bring the Operator perspective into structuring discussions early, helping establish workable governance and operating arrangements ahead of launch. 

“Our focus is on practical oversight, responsive support and continuity throughout the life of the scheme.” 

Robert Fearis, Chief Executive Officer, described the authorisation as an important development for the UK business. 

“It combines a dedicated Operator capability with the experience and international reach of our independently owned Group. 

“Clients benefit from direct access to experienced decisionmakers and a relationship-led service built around their objectives and structures.” 

Praxis has operated in London for nearly a decade. The authorisation has been granted to Praxis Operator Services (UK) Limited and forms part of the Group’s continued development of its corporate and funds offering. 

Praxis Operator Services (UK) Limited is authorised by the Financial Conduct Authority to act as Operator of unauthorised collective investment schemes and undertake related regulated activities. Operator services are focused on professional clients and eligible counterparties. Praxis does not provide tax, legal, investment or regulatory advice.