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…
Category: M&A
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…
Euroclear to acquire MFEX
Euroclear has agreed to acquire MFEX Group, the global digital fund distribution platform that is majority owned by Nordic Capital. Established in 1999, the MFEX Group is headquartered in Stockholm with over 300 employees internationally. MFEX offers a complete solution for fund companies and distributors and has EUR320bn AuA. Over 350 institutional clients use MFEX…
ZEDRA to acquire BIL’s BFCS fund business
ZEDRA, the Cayman-based fund services provider, plans to acquire BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg (BIL). The transaction is subject to regulatory approval from Luxembourg’s financial regulator, CSSF. BFCS, which has been active for more than 50 years, offers services and solutions in both the corporate and funds’ sector,…
Vistra bids AUD180.1m for Mainstream
Vistra, the Hong Kong-based administrator, has made an offer of AUD180.1m (USD139m) for Mainstream Group, an Australia-based administrator that has AuA of c. AUD210bn (USD162bn).
PayPal agrees to acquire Curv
PayPal has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a provider of cloud-based infrastructure for digital asset custody and security, with headquarters in New York and an R&D centre in Israel. In 2020 Curv collaborated with BNP Paribas Securities Services on a proof of…