Nikko Asset Management Co. Ltd, together with its subsidiaries, Nikko AM Group, one of Asia’s largest asset managers, has reached an agreement to transfer its ManCo in Luxembourg to FundRock Management Company S.A., a subsidiary of Apex Group. The transfer agreement includes the sale of Nikko Asset Management Luxembourg S.A. to Apex. Following this, FundRock…
Category: M&A
Apex completes NZ acquisition
Apex has completed its acquisition of Trustees Executors’ custody and investment accounting business. The deal will add 37 new employees and NZD55bn (USD34bn) AuC/A to Apex in New Zealand.
JTC to acquire Citi Trust
JTC, the C.I.-based services provider, plans to acquire Citi Trust, the global fiduciary and trust administration services business, from Citigroup. Citi Trust provides trust solutions from New York, Delaware, South Dakota, Jersey, Singapore, Switzerland and the Bahamas. Total AuA serviced by Citi Trust is >USD70bn across over 2,000 UHNW client relationships, with an average tenure…
SS&C to acquire Battea
SS&C has signed a definitive agreement to acquire Battea-Class Action Services, LLC, a provider of securities class action claims management and settlement recovery services. The purchase price is c. USD670m, subject to certain adjustments. Battea helps more than 900 banks, asset managers hedge funds and proprietary trading firms to receive the maximum distribution of entitled…
BNY to acquire Archer
BNY has entered into a definitive agreement to acquire Archer Holdco, LLC a provider of managed account solutions to the asset and wealth management industry. Archer provides asset and wealth managers with middle- and back-office solutions to address the managed account needs of institutional, private wealth and retail investors.
GTCR buys AssetMark
AssetMark Financial Holdings, Inc., a wealth management technology platform for financial advisors, has completed its acquisition by GTCR, a private equity firm. The acquisition is valued at approximately USD2.7bn, The closing of the acquisition concludes its partnership with Huatai Securities. Concurrent with the closing, AssetMark announced the appointment of Lou Maiuri as chairman and group…
Warburg Pincus invests in Aztec
Aztec Group, a C.I.-based alternative fund and corporate services provider, has added Warburg Pincus as a strategic partner, which will see Warburg Pincus as both a minority shareholder and client of the group. This investment, subject to the relevant regulatory approvals, will support Aztec’s expansion as it moves beyond Europe to become a global player…
NDF appoints Northern Trust
The National Development Fund (NDF) has appointed Northern Trust in Saudi Arabia as custodian. Northern Trust will support consolidation of the assets and books and records of all development funds and banks in the Kingdom of Saudi Arabia under a unified portfolio estimated at more than SAR60bn (USD16bn). The NDF was established to improve the…
JTC acquires Buck businesses
JTC, the C.I.-based professional services provider, plans to acquire the Buck UK and European share plan administration and trustee businesses (Buck Share Plans) from Arthur J. Gallagher & Co, a global insurance brokerage, risk management and consulting services firm. Completion is subject to regulatory approvals. The acquisition will add 16 employees based in the UK,…
Altum to merge with Elysium
Altum Group, a C.I.-based provider of fund, corporate, and family office solutions, has agreed to merge with Elysium Fund Management Ltd, a Guernsey-based provider of fund, corporate and professional services. Elysium will merge into Altum once the deal receives regulatory approval. The combined group will have more than USD40bn AuA, with over 200 employees across…