JTC, the C.I.-based administrator, has announced plans to acquire INDOS, a provider of depositary, ESG and AML oversight services for alternative investment funds. INDOS employs >50 staff across three locations in Ireland and the UK. All employees, including INDOS founder and CEO Bill Prew and his senior management team, will join JTC. The transaction is…
Category: M&A
Northern Trust takes equity stake in Equity Data Science
Northern Trust has reached an agreement to take an equity stake in Equity Data Science, Inc., a cloud-based analytics platform that provides decision support tools to asset managers for idea generation, portfolio construction and risk management. The deal will integrate EDS decision support tools with Northern Trust’s core technology platforms, and is an extension of…
Marketnode joins forces with Covalent for E2E digital FI solution
Marketnode, the digital assets joint venture between the Singapore Exchange (SGX) and Temasek, has partnered with fixed income issuance and data firm, Covalent Capital, to build what they claim is Asia Pacific’s first end-to-end digital infrastructure in the fixed income space. This latest development follows the JV announcement by SGX and Temasek. As part of…
Langham Hall supports sale of Purdey Portfolio to Partners Group
Langham Hall, a UK-based administrator, has supported Paloma Capital LLP with the sale of its Purdey Portfolio to Partners Group for GBP253m (USD346m), and also established the acquisition structure in Jersey for Partners Group. Paloma Capital will stay on as co-investor and operating partner for the new structure, for which Langham Hall will provide ongoing…
Nykredit transfers depositary business to BNY Mellon
Nykredit, one of Denmark’s largest financial services companies, has agreed to transfer its depositary business to BNY Mellon. Working together since 2008, BNY Mellon has provided custody, and Nykredit depositary services, to a wide range of clients in Denmark. As part of the agreement, a small team of employees will transfer to BNY Mellon. The…
Alter Domus buys Strata Fund Solutions to add USD140bn AuA
Alter Domus, the Luxembourg-based provider of fund administration, debt capital markets and corporate services has acquired Strata Fund Solutions LLC, a U.S.-based fund administrator serving U.S. private equity and venture capital funds. Strata has nearly USD140bn AuA with 200 employees. FTV Capital led a significant growth equity investment in Strata in 2018, with participation from…
Carne Group secures EUR100m investment from Vitruvian
Carne Group, the European provider of ManCo and fund governance services, has secured a EUR100m investment from Vitruvian Partners, a UK-based investor.
IHS Markit acquires Cappitech
IHS Markit, the provider of market information, analytics and solutions, has acquired Cappitech, a privately held Israeli company which provides regulatory reporting, best execution analysis and business intelligence solutions. Terms were not disclosed.
U.S. Bank acquires debt servicing & securities custody services client portfolio of MUFG Union Bank
U.S. Bank has entered into a definitive agreement to purchase the debt servicing and securities custody services client portfolio of MUFG Union Bank, N.A. Under the terms of the agreement, U.S. Bank will acquire approximately 600 client relationships and USD320bn AuC/A. The deal is expected to close in the first quarter of 2021, subject to…
IQ-EQ acquires Constellation
IQ-EQ, the Luxembourg-based administrator, has completed the acquisition of Constellation Advisers LLC, a U.S.-based co-sourced and outsourced investment management services provider, following receipt of all necessary regulatory approvals. Constellation Advisers, which has 115 employees across six U.S. offices, provides customised solutions to a range of traditional and alternative investment management firms, including private equity, real…