U.S. Bank has made an equity investment in Lumint, a Boston-based company that provides currency management services to institutional investors. Earlier this year, U.S. Bank launched a new passive currency hedging service powered by Lumint’s technology. In 2018 Lumint formed a strategic partnership with Northern Trust.
Category: M&A
Olympia set to offer Bitcoin custody in Canada after Knox deal
Further progress in the crypto-currency custody space in Canada. Olympia Trust Company has entered into a letter of intent with Knox Capital Inc. and Knox Industries Inc. by which, subject to the satisfaction of certain conditions, Olympia Trust will be granted the exclusive Canadian licence to use a proprietary Bitcoin custody system developed by Knox.…
Mainstream board approves SS&C’s takeover terms
The board of directors of Mainstream Group Holdings Limited, the Australia-based administrator with >AUD224bn (USD175bn) AuA, has unanimously recommended an acquisition by SS&C of 100pct of the shares and outstanding equity rights in Mainstream for A$2.00 per security pursuant to a scheme of arrangement (in the absence of a superior offer and subject to an…
Confluence to buy Fundpeak
Confluence Technologies, a technology solutions provider helping the investment management industry solve complex investment data challenges, has reached an agreement in principle to acquire Fundpeak, a provider of secure fund portals and marketing tools such as fund factsheets and websites. Fundpeak’s solutions help funds produce multilingual factsheets for marketing purposes and to meet local regulatory…
Gate Capital appoints Equity Trustees as UCITS ManCo
Gate Capital has selected Equity Trustees to provide UCITS ManCo services for its latest product, The Written Fund. The fund was launched on Equity Trustees’ Irish domiciled UCITS Gateway platform and is now open to investors. Equity Trustees is an Australia-based provider of trustee and fund governance services with funds under administration and management of…
SS&C offers counter-bid for Australia’s Mainstream
SS&C has entered into a conditional Scheme Implementation Deed with Mainstream Group Holdings Limited, an Australian administrator. SS&C proposes to acquire 100pct of the shares and outstanding equity rights in Mainstream at a price of AUD2.00 per security, pursuant to a scheme of arrangement. Mainstream had previously entered into a Scheme Implementation Deed with Vistra…
TMF acquires Venture Back Office in the U.S.
TMF Group, a Netherlands-based provider of administrative services, has completed the acquisition of Venture Back Office (VBO), a U.S.-based provider of solutions to private equity, real assets, credit, and emerging manager funds. Following this deal, TMF Group will administer >EUR150bn of client assets. VBO was founded in 2007 and provides a range of fund administration…
Sanne acquires STRAIT
Sanne Group, the UK-listed provider of fund and corporate services, has acquired STRAIT, the U.S.-based provider of fund administration, financial oversight and regulatory compliance services for private equity funds, hedge funds, family offices, fund of funds, SPVs and other investment vehicles. STRAIT is headquartered in Dallas, Texas, with more than 50 employees servicing USD20bn AuA.
Vistra gets nod from FIRB for Mainstream acquisition
Vistra Group, the Hong Kong-based provider of advisory and administrative support services, has been notified by the Australian Foreign Investment Review Board that the Commonwealth Treasurer has no objection to Vistra acquiring up to 100pct interest in the securities of Mainstream Group Holdings Limited. Vistra entered into a Scheme Implementation Deed with Mainstream in March…
Deutsche Boerse takes 100pct ownership of Clearstream Fund Centre
Deutsche Börse AG has agreed to acquire the remaining 49pct stake of Clearstream Fund Centre from UBS for CHF390m (USD429m). Deutsche Börse will become the sole shareholder in the Zurich-based fund distribution platform, having initially acquired a 51pct stake in September 2020. The deal follows Euroclear’s recent announcement of its agreement to acquire MFEX, the…