Sanne, the UK-listed administrator, plans to acquire the PraxisIFM funds business. The transaction will add over 80 employees and >GBP25bn (USD35bn) AuA with offices in Guernsey, Jersey, London, Luxembourg and Malta. In 2020 PraxisIFM and Oak, both based in Guernsey, abandoned a planned merger.
Category: Offshore
Integral appoints Apex for new PE fund
Integral Group, a Japanese private equity manager, has appointed Apex to provide fund administration and regulatory services to its Fund IV Cayman LP, which held its final closing at its hard cap of JPY123.8bn (USD1.1bn).
MJ Hudson to acquire SCFS in Guernsey
MJ Hudson, the UK-based asset management consultancy, has agreed to acquire Guernsey-based Saffery Champness Fund Services Limited (SCFS) from accountancy group Saffery Champness, subject to Guernsey FSC approval. SCFS has c. GBP400m AuA. Earlier this year MJ Hudson acquired Ireland-based Bridge Group, a super ManCo.
IQ-EQ to buy Davy Global Fund Management in Ireland
IQ-EQ, the Luxembourg-based administrator, is to acquire Davy Global Fund Management, part of Davy Group, one of Ireland’s largest domestic financial services businesses. The transaction, which is subject to regulatory approval, is expected to close by the end of 2021, following which DGFM will rebrand to IQ-EQ. Formed in 2014, DGFM employs 83 people: 68…
Equiom launches in Ireland
Equiom, the UK-based administrator, has launched Equiom Fund Solutions Ireland Limited, having announced its Irish-domiciled Super ManCo to service AIF and UCITS funds earlier this year.
BP2S makes two senior offshore sales appointments
BNP Paribas Securities Services has made two business development appointments for its offshore business. Linda Lamri is appointed head of sales for Luxembourg. She joined BNP Paribas Securities Services in 2003 and was most recently head of relationship management for Luxembourg. She will report to Robert Van Kerkhoff, head of Luxembourg and Ireland. Joy Kiely…
Ocorian hires new head of corporate development
Ocorian, the C.I.-based administrator, has appointed Simon Percival as group head of corporate development, responsible for the merger and acquisition strategy and implementation. Based in the UK, he reports directly to Ocorian’s CFO, Anthony Zarmakoupis. Percival joins from Finastra, a fintech company, where he was head of corporate development.
Aztec supports Nordic Capital’s new EUR1.2bn fund
Aztec, the C.I.-based administrator, has supported Nordic Capital, a private equity firm and longstanding client, on the first and final close of its Evolution Fund at >EUR1.2bn (USD1.4bn). Aztec has been appointed to provide ongoing administration, financial reporting, depositary and investor services to the fund.
Mainspring to administer new BVI fund
Mainspring Fund Services, a UK-based administrator, has been appointed as administrator for Family & Friends, a recently launched fund domiciled in the British Virgin Islands.
REQ appoints RBC for Irish ICAV admin
REQ AS, a Norwegian asset manager, has selected RBC Investor Services as the service provider for its Irish UCITS ICAV. RBC will provide administration, depositary, custody and middle office services.