Permira, the private equity firm, has agreed to acquire JTC Plc, the C.I.-based fund administration group, in a recommended cash deal valuing the company at approximately GBP2.3bn (USD2.8bn). The acquisition is expected to be implemented via a court-sanctioned scheme of arrangement under Jersey law, though it reserves the right to switch to a takeover offer…
Category: M&A
SS&C to acquire Curo
SS&C is to acquire Curo Fund Services, a South African provider of fund administration solutions, from a joint venture between Sanlam and Old Mutual. The transaction is subject to approval by the South African Competition Commission. Terms of the deal were not disclosed. Curo administers >ZAR3trn (USD170.4bn) and services Sanlam, Old Mutual and third-party institutional…
Alchelyst to merge with Lyra
Alchelyst, the Ireland-based fund administrator for alternative asset managers, and Lyra Client Solutions, a client servicing organisation spun out from Apollo, have announced a merger to form a private markets servicing platform purpose-built to transform the investor experience across the institutional and global wealth channels. The transaction is expected to close in the fourth quarter…
CACEIS takes stake in Kriptown
CACEIS has acquired a minority stake in Kriptown, the French fintech specialising in asset tokenisation. This investment coincides with the upcoming launch of Lise (Lightning Stock Exchange), its subsidiary, which will be the first European tokenised exchange dedicated to SMEs and mid-cap companies. Lise is developing a market infrastructure designed to simplify equity financing and…
IQ-EQ acquires Gordian
IQ-EQ has acquired Gordian Capital Limited, which it claims is Asia’s first and largest institutional cross-border fund platform and fund solutions provider. Its client base consists of global and regional asset managers, internal and external investment teams, SWFs, DFIs, family offices and corporates, investing in private equity, real estate, venture capital, private credit, infrastructure, hedge…
SS&C to acquire Calastone
SS&C has reached a definitive agreement to acquire Calastone, the largest global funds network and provider of technology solutions to the wealth and asset management industries, from Carlyle. The purchase price is c. GBP766m (c. USD1.03bn), subject to certain adjustments. Headquartered in London, Calastone connects more than 4,500 financial organisations across 57 markets.
Broadridge to acquire Acolin
Broadridge Financial Solutions has agreed to acquire Acolin, a European provider of cross-border fund distribution and regulatory services. Acolin will extend Broadridge’s services in Europe, expand its regulatory fund communications services to include additional compliance operations, integrate capabilities to support fund creation, and broaden its distribution insights to better support the needs of European and…
Carne buys Mizuho ManCo
Carne Group, the European third-party ManCo, has completed the acquisition of Japan Fund Management (Luxembourg) S.A. (JFML) from Mizuho Trust & Banking (Luxembourg) S.A. JFML manages approximately USD5bn and supports the overseas investments of Mizuho’s Japanese institutional clients. Carne is acquiring the entire issued share capital of JFML,
BNPP to acquire HSBC’s Germany business
BNP Paribas has entered into an agreement with HSBC for the acquisition of the custody and depositary bank business of HSBC Continental Europe S.A., Germany, subject to regulatory approvals. As part of the agreement, the custody business staff employed at HSBC Continental Europe S.A., Germany will transfer to BNP Paribas’ securities services business in Germany.…
GemCap and M Square partner
GemCap has formed a partnership with MC Square, which will offer clients with products and fund domiciles in Dublin and Luxembourg. With the combined in-house regulatory and operational expertise across both jurisdictions, clients can structure and manage UCITS, AIFs, ICAVs, RAIFs, inter alia. MC Square Group, the holding company of MC Square S.A., a third-party…