Apex is in advanced discussions with the board of Sanne regarding a possible offer to be made by Apex for the entire issued, and to be issued, share capital of the company at a price of 920 pence per Sanne share, in cash. Apex says that it is well advanced in its due diligence review…
Category: M&A
Gen II acquires Stone Pine
Gen II Fund Services, LLC, an independent private equity fund administrator, has acquired Stone Pine Accounting Services, LLC, a Denver-based private equity fund services provider. Terms of the transaction were not disclosed. The addition expands Gen II’s footprint in the Western U.S., and increases its headcount to more than 750. The acquisition brings Gen II’s…
Sanne to acquire PraxisIFM
Sanne, the UK-listed administrator, plans to acquire the PraxisIFM funds business. The transaction will add over 80 employees and >GBP25bn (USD35bn) AuA with offices in Guernsey, Jersey, London, Luxembourg and Malta. In 2020 PraxisIFM and Oak, both based in Guernsey, abandoned a planned merger.
MJ Hudson to acquire SCFS in Guernsey
MJ Hudson, the UK-based asset management consultancy, has agreed to acquire Guernsey-based Saffery Champness Fund Services Limited (SCFS) from accountancy group Saffery Champness, subject to Guernsey FSC approval. SCFS has c. GBP400m AuA. Earlier this year MJ Hudson acquired Ireland-based Bridge Group, a super ManCo.
IQ-EQ to buy Davy Global Fund Management in Ireland
IQ-EQ, the Luxembourg-based administrator, is to acquire Davy Global Fund Management, part of Davy Group, one of Ireland’s largest domestic financial services businesses. The transaction, which is subject to regulatory approval, is expected to close by the end of 2021, following which DGFM will rebrand to IQ-EQ. Formed in 2014, DGFM employs 83 people: 68…
State Street to acquire Mercatus
State Street has agreed to acquire U.S.-based Mercatus, Inc., a front-and-middle-office solutions and data management provider for private market managers. The transaction is expected to be completed in September, subject to customary closing conditions. Financial terms are not being disclosed. State Street intends to offer a fully integrated platform for growing private market segments including…
Carlyle and Mubadala invest in Apex
Carlyle, the private equity investor, and Mubadala, the Abu Dhabi-based sovereign wealth fund, have taken minority stakes in Apex Group Ltd. Carlyle and Mubadala have invested in the ordinary share capital alongside founder and CEO Peter Hughes, majority investor Genstar and TA Associates, which made a significant minority investment earlier this year. This investment expands…
Apex to acquire German administrator
Apex Group is to acquire mola-administration GmbH, a fund administrator based in Germany. mola-administration serves private equity firms, venture capital, debt, special situations and digital assets funds, with AuA of EUR3.5bn.
Genstar acquires majority stake in Foreside
Genstar Capital, a private equity firm, has signed a definitive agreement to acquire a majority stake in Foreside Financial Group, LLC from Lovell Minnick Partners. Foreside provides distribution, governance, risk management and compliance solutions to clients in the global asset and wealth management industries. Genstar is the majority owner of Apex Group.
BNY Mellon to acquire Milestone
BNY Mellon has entered into a definitive agreement to acquire Milestone Group, a U.S.-based provider of fund management technology, including the widely adopted pControl platform. The deal comes just over a year after the two companies formed an alliance to create a suite of oversight and contingent NAV services for asset managers and owners seeking…