Formidium, a small U.S.-based fund administrator, has acquired Ci Fund Services S.A., a Luxembourg-based provider of private label fund solutions. The transaction was completed following approval by the CSSF. Formidium has USD38bn AuA.
Category: M&A
EQT to acquire RE provider
In Australia, EQT Holdings Limited has entered into a conditional agreement to acquire, for nominal consideration, all of the issued shares in Platinum Investment Management Limited (PIML) from Platinum Asset Pty Limited, a wholly owned subsidiary of L1 Group Limited. PIML is the responsible entity (trustee) for a range of listed and unlisted managed investment…
UBS transfers to Northern Trust
UBS has reached an agreement to extend its long-standing fund administration relationship with Northern Trust and transfer its fund administration businesses. Under the new agreements, subject to regulatory approvals, UBS’s Swiss and Luxembourg ManCo’s will extend their existing fund administration agreement with Northern Trust to include investment funds that are currently serviced by UBS, which…
KKR to acquire Gen II
KKR has agreed to acquire Gen II Fund Services, LLC, a U.S.-based private capital fund administrator, for a total enterprise value of USD5.1bn. KKR is acquiring Gen II from Hg, General Atlantic and other minority investors through its core private equity strategy. The current leadership team. headed by CEO Steven Millner, will continue to run…
Euroclear builds Inversis stake
Euroclear has completed the acquisition of a 90pct stake in Inversis from Banca March. Following its initial acquisition of 49pct in 2025, this second transaction expands Euroclear’s presence in Southern Europe and combines Inversis’ strong local franchise in funds and investment services with Euroclear’s scale, infrastructure and international ecosystem.
TMF acquires in Finland
TMF Group, a Netherlands-based provider of global administrative and compliance services, is to acquire Navigator Partners, a Finland-based provider of fund and investor administration, corporate and foundation management services. Headquartered in Helsinki, Navigator Partners provides services including fund administration, accounting and reporting, payroll services, property management administration, foundation administration, and tax compliance services. The business…
Euroclear builds Inversis stake
Euroclear has completed the acquisition of a 90pct stake in Inversis from Banca March. Following its initial acquisition of 49pct in 2025, this second transaction expands Euroclear’s presence in Southern Europe and combines Inversis’ strong local franchise in funds and investment services with Euroclear’s scale, infrastructure and international ecosystem.
Bloomberg to buy Canoe
Bloomberg has entered into a definitive agreement to acquire Canoe Intelligence, an AI-powered data management and intelligence platform for automating private markets data collection and delivery. Processing over 1.5m documents per month across more than 44,000 funds, Canoe delivers structured, portfolio-ready insights, to over 500 institutional clients representing more than USD11trn AuM.
State Street to acquire in LatAm
State Street has signed an initial agreement to acquire the Santander CACEIS Latam Securities Services joint venture in Brazil, Mexico, and Colombia. The joint venture is owned by the Santander Group and CACEIS, with AuC of c. USD470bn and AuA of c. USD225bn.
Euroclear to acquire Uptevia
Euroclear has entered into exclusive negotiations to acquire Uptevia, a France-based corporate trust services provider. Uptevia is currently jointly owned by BNP Paribas and CACEIS. Through Uptevia, Euroclear will add specialist issuer capabilities and reinforce its position in the French market, complementing its existing market infrastructure and post-trade services across key European markets, including Belgium,…