2022 has taken off with a series of mergers and acquisitions among smaller fund administrators, an article by Global Custodian observes.
“While January is a traditionally active period for M&A announcements in the space, the profile of acquirers this year is slightly different,” writes Global Custodian, going on to list its examples.
• Suntera Global buys Nedgroup Trust, a specialist provider of fiduciary services based in Guernsey and Jersey. For Suntera, it adds Guernsey as a ninth jurisdiction of presence.
• Standish Management, a manager of 250 billion USD, acquires California-based boutique Alpha Alternatives Fund Services.
• Waystone takes over T. Bailey Fund Services (TBFS), to better address the UK Authorised Corporate Director (ACD) market. They will jointly oversee more than 10 billion GBP in ACD-related assets.
• Zedra buys PTL, an independent pension trustee, to strengthen its pension services in the UK where the deal brings 70 experts and staff on board.
Among larger actors, Apex and TMF are among the groups that have also pursued acquisition campaigns.