NAV IN THE NEWS

NAV Fund Administration Group Opens 4th Backoffice Facility To Support Client Growth and Expanded Employee Team

NAV Fund Administration Group, a leading provider of administrative services to alternative asset managers, completed construction on a fourth Backoffice location in Jaipur, India and has officially begun welcoming employees on-site. The new 90,000 square foot facility features state-of-the-art technology, with a focus on environmental sustainability and physical and information security. The building utilizes solar panels to support power needs, includes a radiant cooling air conditioner and air purification system, and incorporates numerous amenities designed for employee development and benefit, including an on-site cafeteria, gym, and childcare facility.

NAV opened its first Backoffice operation center in India in 2001. The new office will seat 750 additional employees. A fifth office location recently began construction in central Jaipur and will feature an additional employee capacity of nearly 200.

"NAV's growth in number of clients and the corresponding increase in Backoffice headcount has set a record for us, with a continued upward trajectory anticipated," said NAV Backoffice Managing Director Anil Agrawal. "We are also evaluating leased space in New Delhi and Bangalore in order to offer employees more flexibility in their work location options and to enable us to recruit talent from a wider area."

The new Backoffice facility represents NAV's largest recent infrastructure investment, but construction is also underway to build out additional office and employee meeting/gathering spaces in the U.S. Corporate Headquarters building located in suburban Chicago as well.

"NAV now employs a highly skilled and talented team of 2,250 servicing 2,000 funds worldwide," said NAV CEO Nav Gupta. "Our leadership in cryptocurrency fund administration, in particular, has contributed to a large influx of new clients seeking our expertise, technology, and breadth of dedicated crypto services. We will continue to recruit and hire experienced staff for both the Backoffice and U.S. teams in order to support our growth and maintain superior client service."

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