Alter Domus, a leading provider of integrated solutions for the alternative investment industry, has announced the creation of 100 new jobs in Cork, substantially increasing headcount at its European Centre of Excellence near the city.
The company currently operates its European hub for global private debt, private equity, real estate and infrastructure investors and managers from Cork, supporting over €1 trillion in assets under administration globally.
It also has offices in Dublin and employs 180 people in Ireland.
To support continued growth, the Company said it is investing in a new workplace for the future at Cork Airport Business Park allowing the business to continue to scale.
The plans come as private asset funds are poised for significant growth in Ireland and the Company aims to provide fully integrated solutions to its clients.
Taoiseach Micheál Martin said the creation of 100 new highly-skilled jobs at the Alter Domus European Centre of Excellence in Cork shows the “rich pool of talent” in the country.
"There will be even greater opportunities in the Financial Services sector in years to come and the innovative graduate development paths provided by Alter Domus will help ensure future growth,” the Taoiseach said.
Heather Crowley-Kerr, Head of Operations Europe, Alter Domus, added: “Our Irish operations have played a key part in our growth to become a leading global provider of fund administration and asset servicing dedicated to the alternative investment industry.
"We are delighted to announce the creation of 100 new jobs in Ireland and, in particular, at our European Centre of Excellence in Cork. Ireland offers a strong talent pool from which to grow. This includes both experienced professionals from the alternatives fund services industry and also access to quality third-level graduates. Our ability to attract talented professionals with a rewarding career path together with the development of a sophisticated training academy has aided our ability to grow rapidly in 2020 and we expect this to continue in 2021.”
Martin Shanahan CEO of IDA Ireland, added: “Alter Domus first established in Ireland in 2011. Since then it has significantly expanded its presence in Dublin and Cork.
Alter Domus will also continue to invest in its partnerships with third level institutions locally. This will include the enhancement of both graduate and internship programmes that will become a key source of top talent of the future. Annual intake for each of these programmes is expected to double this year.
Globally, Alter Domus recruited over 700 people in 2020 including 80 people in Ireland.
In addition to this growth, Alter Domus continues to grow by acquisition.
In December, the Company acquired Boston-based fund administrator, IPS Fund Services and London-based fintech, Credit-Vision and, in January, acquired Utah-based Strata Fund Solutions LLC.
Alter Domus is targeting significant further organic and acquisition growth in 2021, part of which will be driven by the expansion of its services and capabilities in the Irish market.