The Swiss Stock Exchange has made an investment in Custodigit, the joint venture created by Swisscom and Sygnum in 2018. With this agreement, SIX Digital Exchange, Swisscom, and Sygnum Bank will enable Swiss banks to offer access to digital assets for their customers through an institutional digital asset gateway. The gateway will support the complete…
Category: M&A
Sanne to acquire PEA in Denmark
Sanne, the UK-listed provider of alternative asset and corporate business services, has agreed to acquire Private Equity Administrators, a Denmark-headquartered private equity fund administrator. PEA specialises in providing fund administration and depositary services to alternative fund structures. The business also has operations in Sweden and Guernsey, with over 55 employees and >EUR27bn AuA. This is…
Deutsche Borse to acquire 80pct of ISS
Deutsche Börse AG, Institutional Shareholder Services Inc. and Genstar Capital LLC have reached an agreement for Deutsche Börse to acquire a majority share of approximately 80pct in ISS, valuing ISS at USD2,275m (EUR1,925m). Genstar Capital and current management will continue to hold a stake of approximately 20pct. The transaction is expected to close in the…
FNZ to acquire Silica from Ninety One
FNZ, a global wealth management platform with over EUR700bn in assets under administration, has agreed to acquire South African third-party administrator Silica from Ninety One. Silica was established by Ninety One (then Investec Asset Management) in 1999 and provides third-party administration and related technology solutions to asset managers and investment product providers (including Ninety One)…
Carlyle leads new equity investment for Apex
The Carlyle Group has led a preferred equity investment for Apex Group, the Bermuda-based global financial services provider. Apex will use the capital to support ongoing growth and acquisition activities, including its previously announced acquisitions of Luxembourg-based FundRock and Banco Modal’s alternative fund administration business in Brazil. Carlyle recently agreed to buy a majority stake…
IQ-EQ supports Claret spin-out from Harbert
IQ-EQ, the Luxembourg-based provider of corporate and fund services, has supported the spin-out of Claret Capital Partners from Harbert Management Corporation, a U.S.-based manager focused on alternative assets, with approximately USD7.4bn AuM. This transaction sees Claret assume full ownership and control of the general partners of Harbert European Growth Capital debt funds, with >EUR400m (USD470m)…
Foreside acquires ICSGroup
Foreside Financial Group, a U.S.-based provider of governance, risk management, and compliance service and technology to the global asset and wealth management industry, has acquired the regulatory compliance business of Integrated Compliance Solutions Group, a U.S.-based regulatory compliance services firm serving the asset management industry in the U.S. and Africa, with an emphasis on private…
Gen II secures new funding as IHS Markit takes minority stake
Gen II Fund Services, a U.S.-based independent private equity fund administrator, has secured new funding. General Atlantic, a global growth equity firm, and Hg, a global software investor, will lead the investment. IHS Markit, a provider of information, analytics and solutions, will also make a minority investment in the company. Cobepa S.A will continue to…
Sanne completes acquisition of Avalon in Cayman
Sanne Group plc, the UK-listed financial services provider, has completed its acquisition of Avalon Trust & Corporate Services Ltd. in the Cayman Islands. Earlier in 2020 Sanne acquired Dublin-based Inbhear Management Services, which also had a presence in Cayman.
Apex to acquire Banco Modal’s alternatives business in Brazil
Apex has agreed to acquire Banco Modal’s alternative fund administration business in Brazil (MAF). MAF will add 75 employees to the group, increasing its overall Americas headcount to over 400 people, while broadening its existing presence in LatAm through offices in Rio de Janeiro and São Paulo, complementing its Uruguay office, established in 2013. The…