Clearstream has completed the acquisition of a majority stake in UBS’s fund distribution platform, Fondcenter AG. Clearstream and UBS signed an agreement under which Clearstream has now acquired a 51.2pct stake in Fondcenter for CHF389m. Clearstream will combine the Fondcenter business with its existing Fund Desk, forming Clearstream Fund Centre, a global fund distribution support…
Category: M&A
TMF to acquire Selectra ManCo in Luxembourg
TMF Group and Farad Group have signed an agreement for the acquisition of Selectra Management Company by TMF Group from Farad Group. Completion of the transaction is subject to regulatory approvals from the Commission de Surveillance du Secteur Financier. Selectra is a regulated management company based in Luxembourg, servicing both AIFs and UCITS.
Sanne buys Deutsche Bank’s trust & agency business in Japan
Sanne, a UK-listed provider of alternative asset and corporate services, has acquired Deutsche Trust Company Limited Japan, Deutsche Bank’s trust and agency services business in Japan. The company will operate its trust business under the new name, Sanne Group Japan Trust Company.
Ocorian to acquire Newgate Compliance
Ocorian, the C.I.-based administrator, is to acquire Newgate Compliance, a UK-based compliance consultancy and hosted regulatory solutions provider for funds clients. The deal is subject to regulatory approval.
Apex acquires Praesidium in UAE
Apex Group has acquired Praesidium Advisory Ltd., a UAE based compliance and risk advisory firm.
Intertrust to acquire corporate services business in India
Intertrust, the Netherlands-based provider of tech-enabled fund and corporate solutions, has reached a binding agreement to acquire the corporate services business of Sameer Mittal & Associates, a corporate services provider based in India. Sameer Mittal & Associates, which was established in 2012, has been Intertrust’s preferred corporate services partner in the region since 2016. The…
IQ-EQ completes acquisition of CE&S in France
IQ-EQ, the Luxembourg-based provider of corporate and fund services, has acquired Conseil Expertise & Synthese, an independent accounting business based in Paris. This acquisition is the second in France for IQ-EQ 2020, complementing its purchase of Peru & Partners to create a business with 75 people in the country. CE&S offers accounting, tax, payroll and…
Oak and PraxisIFM plan to merge
Oak Group and PraxisIFM, two administrators based in Guernsey, plan to merge. Heads of Terms, which enable both companies to start formal negotiations, have been agreed and signed. Established in 2018 through the consolidation of four businesses, Oak operates across six jurisdictions with approximately 200 employees worldwide. PIFM listed on TISE in 2017 and has…
DMS buys Switzerland’s Oligo Fund Services
The DMS Group, a Cayman-based provider of governance, risk and compliance services, has acquired Oligo Swiss Fund Services, a Swiss FINMA-accredited fund services company. Oligo is authorised and regulated to represent foreign funds distributed in Switzerland with a service that includes fund representation, distribution services and arrangements with the paying agent bank. Oligo currently works…
FNZ and State Street to collaborate on wealth manager servicing
FNZ and State Street are collaborating on a new wealth manager servicing venture. FNZ will acquire a majority stake in State Street’s wealth manager services (WMS) business, with State Street retaining a minority interest. Terms of the transaction, which is expected to close in Q4 2020, are not being disclosed. Upon full implementation, the new…