By Will Grahame-Clarke, added 29th September 2017
Global alternative asset and corporate administration services provider Sanne has agreed to acquire Luxembourg Investment Solution (LIS) and Compliance Partners (CP).
The acquisition is expected to provide Sanne with significant scale in Luxembourg.
LIS is a third party alternative investment fund manager (AIFM) with assets under administration in excess of €8.3bn (£7.3bn $9.8bn).
It is authorised to deliver management company (ManCo) services to both alternative investment funds (AIFs) and open-ended mutual funds (Ucits) within the EU.The company is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
CP provides primarily corporate services to its clients.
The transaction is conditional upon certain regulatory clearances and is expected to complete in Q118.
Founded in 2011, the two companies employ more than 70 people, the majority of whom are based in Luxembourg and a small operation in Dublin.
The businesses provides alternative asset and corporate focused administration services to more than 60 clients and administers in excess of 100+ fund structures.
Like Sanne, LIS and CP have a largely institutional client base.
Adding scale in Luxembourg
“The addition of LIS and CP into our existing Luxembourg operations is a significant development for us,” said Dean Godwin, chief executive of Sanne Group.
“The acquisition will add further quality and scale to our existing business whilst also deepening our alternative asset service offering with a market leading AIFM service in Luxembourg.
“LIS and CP are led by a highly experienced and respected team that has established a platform with a focus on providing its clients with the highest quality services. This closely aligns with our own philosophy.
“Luxembourg is an important jurisdiction for us as we continue to work with, and service, international alternative asset managers launching funds in Europe.”