IQ-EQ, the Luxembourg-based administrator, has been appointed by Flexstone Partners to provide fund administration and a suite of related services. As part of this mandate, IQ-EQ has lifted out Flexstone’s key servicing team from its legacy provider, MB Fund Administration. Flexstone Partners, an affiliate of Natixis Investment Partners, is a private investments firm with >USD10.1bn AuM, including >500 funds and >4,000 portfolio companies.
IQ-EQ has also entered into an asset purchase agreement with Flexstone’s previous service provider, MB Fund Administration, with 72 India-based employees transferring to IQ-EQ. The team is based in Noida, a satellite city of Delhi.