Private equity fund admin jobs next in line?

First funds, then hedge funds - are private equity fund administration roles next in line for growth in Ireland?

Big US players such as Northern Trust have been looking to tap into growing interest in private equity in Ireland - the company said last year that it was setting up a team to serve private equity funds registered in Dublin.

Overall, greater demand for people able to manage complex investments is having a positive knock-on effect on the admin industry, argues Hamish Reid, manager, financial services at recruiter Sigmar.

Demand for administrators will inevitably pick up as private equity funds compete with hedge funds for scarce admin talent, he believes.

"Banks are particularly keen to tempt back to Ireland candidates with the technical skills required for such roles," he says.

"But they would also consider training people within the Irish market, who have the right core skills and just need to be provided with the relevant technical knowledge," he adds.

Standard fund administration jobs can range from the €28k to €40k mark, plus bonus, with more specialised roles, such as hedge fund accountants, rising to around €35k to €45k.

However, accountants keen to make the switch into private equity fund administration may well find the transition challenging, argues Paul Cotter of recruiter Joslin Rowe.

"The extent of front office opportunities is very limited at the moment. There are a high number of people working in back office positions who would like to move over onto the asset management side, so it is an area that will grow, but we are not seeing dozens of companies doing it," he says.