Permian Advisory, Risk Management and Compliance
February 11, 2025
At Permian, we understand that the complexities of modern investment environments demand robust advisory support, meticulous risk management, and unwavering commitment to compliance. Our specialized services ensure that fund managers and investment companies can navigate these challenges with confidence and focus on achieving their strategic goals.
The Permian advisory team includes senior and junior experts within PE operations, risk management, compliance and legal. Head of Legal sits in Sweden where EU regulations starts to apply immediately as soon as it has come into force, and where EU directives are normally implemented more quickly than in Norway. The Norwegian advisory team benefits from the Swedish learning experience on new EU legislation and interpretation.
Permian Advisory offers advice based on long regulatory and operational experience
The advisory team in Norway and Sweden offers advice based on many years of experience across a variety of roles relevant to all aspects of establishing and administrating alternative investment funds (AIFs).
- AIF Establishment: The team has experience from fund formation in Norway, Sweden, Guernsey, Malta, Cayman and Luxembourg. Permian offers introductions to the legal, operational and practical aspect of establishing, marketing and operating alternative investment funds.
- AIF Marketing: Permian supports AIF managers in applying for or notifying the FSA of marketing permits for their funds. Permian is confident in taking on a coordinating role and assist managers in developing and obtaining approval for the marketing documentation such as prospectuses that require FSA approval.
- Compliance: AIF managers can outsource the compliance officer function to Permian. Several team members have long experience from the position of compliance officers for licensed AIF managers in Norway and Sweden.
- Regulatory Issues: The advisory team may assist on most regulatory issues relevant for AIF managers including
SFDR/Taxonomy and
DORA legislation. DORA is a new EU regulation which became effective in the EU including Sweden on 17 January 2025. It is yet unclear when DORA will apply to Norwegian AIF managers.
Risk Management: A Proactive and Comprehensive Approach
Effective risk management is a foundation for sustainable growth. At Permian, we embed risk awareness throughout key areas of an organization when acting as risk manager for clients. Our process when acting as risk manager includes:
- Identification and Classification: Pinpointing key risks, including environmental, social, and governance factors (ESG).
- Mitigation Planning: Developing and implementing strategies to address risks effectively.
- Ongoing Evaluation: Continuously assessing the success of mitigation measures to ensure resilience.
In applying our process, risks can be detected and appropriate mitigating activities be implemented. The intention being to protect investments and for our clients to be confident that their risk process is compliant with internal and external rules.
Compliance: Ensuring Regulatory Excellence
Keeping pace with evolving regulations requires diligence, experience, and an eye for detail. At Permian, we excel at helping clients maintain compliance across all operational facets. Our services include:
- Compliance Officer Role: Acting as compliance officers for fully licensed AIFMs, ensuring adherence to regulatory standards.
- Regulatory Monitoring and Reporting: Staying ahead of changes to rules and providing timely updates and insights.
- Training: Educating teams on compliance requirements to foster a culture of awareness and accountability, including the mandatory AML training.
- Policy Framework: We offer tailor-made policies for AIF managers, including EuVECA.
Our key success factor in delivering compliance services is applying a hands-on approach based on our practical expertise in fund administration, fund accounting, risk, depositary and regulatory.
Key Contacts
In today’s fast-paced financial landscape, providing your investors with a seamless, secure, and professional experience is more important than ever. That’s why we’re proud to offer our Allvue Investor Portal—a dynamic solution designed to enhance communication, streamline operations, and empower investors with the tools they need to stay informed.
The Sustainable Finance Disclosure Regulation (SFDR) has been a cornerstone of the EU’s sustainable finance framework, but its implementation has revealed challenges, particularly around product classification and transparency. In response, on 17 December 2024, the EU Platform on Sustainable Finance released a briefing note outlining a proposed new categorization system to provide clearer guidance and improve investor understanding. This proposal is currently under review and has yet to become final legislation. However, with the SFDR revision scheduled for Q4 2025, fund managers must stay proactive in understanding and preparing for the new classification system. This article explores the proposed changes, insights from the ESAs’ joint opinion on SFDR, and what these developments mean for fund managers, investors, and the broader financial ecosystem.
This post contains some key information for the periodic reporting under the Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (the “SFDR”). The periodic report is a mandatory report for all article 8 and article 9 funds under the SFDR.
Permian, Telemos Capital (“Telemos”) , and Highvern are pleased to announce the signing of binding agreements to combine Permian and Highvern to create a leading international funds and private capital services provider. Existing shareholders to re-invest alongside both senior management teams. Together the businesses already operate in 7 jurisdictions with close to 300 employees and plan for further accelerated organic growth as a result of the new combination itself, alongside further expansion into new strategically important markets. Telemos, backed by the Jacobs family, will ensure the new group has the financial support to continue investing in its service offerings, people and technology in order to meet clients’ evolving needs. Already leaders in their respective markets, the Permian and Highvern brands are long-established and have built strong reputations for service quality and the strength of their client relationships. These will remain central to the group’s future values and strategy. Philippe Jacobs, Chairman and Founder of Telemos, and Johan Pettersson, Head of Business Services commented “We are excited to be able to bring these two first rate businesses together and are grateful to both management teams for their trust by choosing us as their partner. By leveraging our sector expertise and international network, we look forward to supporting the management teams with their plans to create a next generation, customer-centric, international funds and private capital services provider.” Marianne Normann, CEO at Permian added that “Following Telemos’ investment in Permian last year this announcement is an early demonstration of the benefits of working alongside forwardthinking partners. Together with Highvern, we are excited to expand our reach and serve our clients in new geographical markets. The combined group will be differentiated in the market by its high-quality service offering enabled by technology, allowing us to grow alongside our clients”. “Family capital is the ideal source of growth funding for an ambitious and respected business like ours” said Martin Hall, CEO at Highvern. “We have got to know the Telemos team closely over the last few years and can be confident that we will continue to serve our clients with the same focus on quality while accelerating our fund administration and private capital service lines in this new combination.” Subject to regulatory approvals the transaction is expected to close by mid-2025. Media contacts
We are excited to announce that Permian Business Partner has been named a Gazelle Company for 2024 by Dagens Næringsliv. This recognition is based on meeting several criteria, including achieving profitability and doubling our turnover over the past four years. Being included on the Gazelle list is an acknowledgment of our growth and the consistent efforts of our team. We are proud of this achievement and deeply appreciate the trust and support of our clients and partners, who have been vital to our progress.
At Permian, our Fund Administration team works behind the scenes to ensure seamless operations for our clients. By managing the backbone of fund operations, we enable fund managers to focus on what they do best. Our team delivers a comprehensive suite of services, including investor and FSA reporting, liquidity management and forecasting where investor calls and distributions are important tasks, investor onboarding where we offer a fully outsourced KYC solution, handling of subscription forms for underlying investments, and coordinating with external advisors when there are several parties involved. In short, we take care of the details so our clients can stay focused on their priorities.
On 13 June 2024, the European Parliament and the Council of the European Union signed the Artificial Intelligence Act ( Regulation (EU) 2024/1689 ) (the “AI Act”). The AI Act provides developers and deployers of AI with obligations regarding the use of AI. The law will apply in EU from 2 August 2026 and work is underway to facilitate rapid implementation in Norway.
At Permian Sweden, everything begins with exceptional fund accounting! We’re proud to have a dedicated team of 20 fund accountants who bring a wide range of expertise, experience, and a strong commitment to delivering an accurate and precise product. Their work is essential in managing our fund accounting and payroll processes, ensuring that we meet the highest standards of accuracy and compliance. We’ve seen firsthand how fundamental accounting missteps can disrupt operations, leading to errors in investor reporting, inaccurate IRR and waterfall calculations, and mistakes in investor payments. At Permian Sweden, we are committed to avoiding these pitfalls by building a strong foundation of precision and accountability in all aspects of our work.
The Digital Operational Resilience Act ( Regulation (EU) 2022/2554 ) , aims to address the increasing reliance on Information and Communication Technology (ICT) in the financial sector and its associated risks. The regulation will apply as of 17 January 2025 in the EU and is expected to be adopted in Norway where timeline is unclear. AIFMs and other affected financial entities should start their preparations.
