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 based in Dublin, 13 in Luxembourg, 1 in London and 1 in Chicago. The firm specialises in real estate ManCo services in Ireland. The newly combined Irish business, which will offer corporate administration, fund administration, fund management and portfolio management services, will have 110 employees located in Dublin and Shannon. Following regulatory approval, Tom Berrigan, DGFM CEO, and Paul Giblin, DGFM MD, will join the IQ-EQ UK & Ireland senior leadership team.
