Convergence Inc. has acquired Double N Advisers, LLC (DNA). Carl Versella, DNA’s founder & CEO, will assume the role of managing director to lead its capital markets segment and its management consulting practice. DNA is an independent management consulting firm that delivers operations and business strategy to financial services companies and their service providers. Services…
Category: M&A
PolySign to acquire MG Stover
PolySign Inc., the U.S.-based digital assets fintech, has agreed to acquire MG Stover, a U.S.-based alternatives administrator with >USD40bn in digital assets under administration, believed to the world’s largest. The acquisition will enable PolySign “to deliver a comprehensive, vertically integrated custody, trading and administration offering to institutional investors for cryptocurrency and digital assets”. PolySign expects…
EFA owners agree to sell
Universal Investment Group and the shareholders of European Fund Administration (EFA) – Banque de Luxembourg, Banque et Caisse d’Épargne de l’État, Oddo BHF, Quintet Private Bank (Europe) S.A. –have entered into an agreement for the acquisition of EFA by Universal Investment Group. The transaction is subject to regulatory clearance by CSSF and is expected to…
Apex acquires U.S. tax specialist
Apex has acquired a majority shareholding in FTS, a U.S.-based tax services firm serving clients in the alternative investment and family office sectors. FTS provides tax planning, tax compliance, and tax structuring for private equity funds, and real estate funds. This dedicated tax offering complements Apex’s existing range of U.S. tax preparation services and support,…
Waystone to acquire Centaur
Centaur, the Ireland-headquartered provider of fund administration services to the alternatives sector, has reached agreement to become part of the Waystone Group, subject to regulatory approval. With offices in U.S., Canada, Bermuda, the Cayman Islands, Luxembourg and the UK, Centaur employs over 220 staff and provides fund administration and fiduciary services to over 120 client…
ZEDRA acquires in Jersey
ZEDRA, the Switzerland-based provider of corporate services, wealth and fund solutions, plans to acquire BNP Paribas Jersey Trust Corporation Limited. The transaction is subject to regulatory approval. The trust company offers trustee and fiduciary services to its clients. The firm also has over a decade of experience providing trustee services to private equity and real…
Deutsche Börse to acquire Kneip
Deutsche Börse Group is expanding its offering in the data services space by acquiring Kneip Communication S.A., a leading European fund data specialist. The companies have reached an agreement through which Deutsche Börse will acquire 100pct of the Luxembourg-based fund data manager. Further terms of the transaction were not disclosed. The transaction is expected to…
Apex acquires majority stake in FAC
Apex has acquired a majority stake in Fund Admin Chain, a distributed ledger-based network for launching, distributing, trading and settling collective investment funds. FAC is designed to connect fund investors, fund managers and their service providers in a digital distributed ecosystem. In addition to simplifying and streamlining the investment funds’ value-chain, FAC delivers additional revenue…
ZEDRA acquires Axelia
ZEDRA, the Switzerland-based service provider, has acquired Axelia Partners in the U.S. Axelia Partners has been privately owned by Alexandra and Philippe Suhas since 2013 and is headquartered in Boston, with offices in New York. The company facilitates the U.S. expansion of predominantly European headquartered businesses and entrepreneurs by providing administrative and accounting services necessary…
Gen II acquires Update Capital
Gen II Fund Services, LLC, a U.S.-based fund administrator in the alternatives investment market, has acquired Update Capital, a Canada-based provider of investment management technology solutions for the real estate market. Terms of the transaction were not disclosed. Update Capital provides an automated, cloud-based solution for real estate sponsors to manage their assets and investors.