Alter Domus employs 180 people in Ireland, after recruiting 80 new staff last year. It will now be adding another 100 roles, the company said in a press release on 27 January. Annual intake for graduate and internship programmes is expected to double this year, the company said.

Youth unemployment in Ireland rose to more than 44% at the end of last year because of the pandemic.

“I am particularly pleased to see the company will continue the partnerships it has established with local third-level institutions,” said former Irish prime minister and employment minister Leo Varadkar about the company’s cooperation with universities in Ireland.

The company will also be investing in new offices at Cork Airport Business Park. “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,” Alter Domus said in a statement.

“We have continued to rapidly grow the business in recent years and see a new market opening up here for investors in private assets. This industry holds over $10 trillion in assets, a growing proportion of which is invested in Europe,” said Ireland country executive James McEvoy. “Ireland is going to be an increasingly important access point to these markets.”

The announcement came roughly two weeks after Alter Domus said it bought Strata Fund Solutions LLC, a leading fund administrator serving US private equity and venture capital funds.

The acquisition brought the group’s worldwide assets under administration to more than $1 trillion. It followed the integration of IPS Fund Services LLC, a Boston-based fund administrator serving private equity and venture capital funds, in December 2020.

Alter Domus was founded in Luxembourg in 2003, where it employs more than 800 staff. Across 35 offices in 20 countries, it now counts around 3,000 employees, after adding 700 jobs last year.