JTC, the C.I.-based funds and corporate services provider, has agreed to acquire NES Financial, a U.S.-based provider of specialist fund administration services. Founded in 2005, NESF has 58 employees, all of whom will join JTC, delivering services from Boston, Massachusetts, where its fund administration operation is based, and San Jose, California, which is the company’s…
Category: M&A
BP2S to acquire Sabadell’s Spanish depositary banking unit
BNP Paribas has agreed to buy the depositary banking business of Banco de Sabadell in Spain. BNPP will pay EUR115m (USD127m) for the unit, which has assets of EUR22bn. Last year BNPP agreed to buy MAPFRE’s Spanish depositary services unit, and in 2014 it acquired Banco Popular’s depositary business in Spain.
Sudrania FS receives further funding from Bodhi Tree AM
Sudrania Fund Services Corp, a Chicago-based fund administration and technology company, has received another round of strategic seed investment from Bodhi Tree Asset Management. This investment is a follow up from an initial investment made by Bodhi Tree in 2018. Shalin Madan, the CIO of Bodhi Tree, will join Sudrania’s advisory board. Sudrania currently has…
Citi and RBC sign client transfer agreement for Australia
Citi has finalised a client transfer agreement with RBC Investor & Treasury Services in Australia. The announcement follows Citi and RBC signing a memorandum of understanding in November 2019, with the intent to facilitate an orderly transfer of the RBC client base to Citi over a 12-24 month period. The transaction will enable Citi’s securities…
IQ-EQ acquires Blue River Partners in U.S.
IQ-EQ, the Luxembourg-based administrator, has acquired Blue River Partners, a U.S. provider of fund services to alternative asset managers. The newly combined IQ-EQ U.S. operation will total 200 people in the U.S. as a result of this transaction. Founded in 2009, Blue River services more than 400 clients across the U.S. and employs approximately 180…
SANNE to acquire Inbhear
Sanne, the C.I.-based alternatives administrator, has agreed to acquire Inbhear Fund Services and Inbhear Management Services for an upfront consideration of EUR6.6m (USD7.2m), and an earn-out over the next three years capped at EUR7.8m (USD8.6m). Inbhear is a Dublin-based fund administrator with a presence in Cayman.
Centaur secures equity investment from FTV Capital
Centaur Fund Services, the Dublin-based provider of administration and regulatory services for the alternative investment fund industry, has secured an equity investment from FTV Capital, a U.S.-based private equity firm. Ronan Daly, Karen Malone and Eric Bertrand, Centaur’s founders, will continue their leadership roles and remain significant shareholders in the company. As part of the…
Intertrust acquires Round Hill’s legal, corporate & acctg services team
Intertrust, the Netherlands-based provider of corporate and fund solutions, has signed a strategic agreement with Round Hill Capital, a UK-based real estate investment, development and asset management firm. The deal sees Intertrust acquire the legal, corporate and accounting services team of a subsidiary of the global firm. Whilst continuing to provide dedicated ongoing support to…
J.P. Morgan takes stake in Arcesium
J.P. Morgan has taken a stake in Arcesium, the U.S.-based investment management technology and professional services firm. The investment deepens Arcesium’s strategic partnership with J.P. Morgan, including its securities services business, which already uses Arcesium’s technology for some parts of its alternative fund servicing operation. Terms of the investment were not disclosed.
FIS takes majority stake in Virtus
FIS, the U.S.-based technology firm, has acquired a majority stake in the specialist alternatives fund solutions provider, Virtus Partners. Virtus focuses exclusively on managers in the credit space. Terms were not disclosed.