SANNE, the leading global provider of alternative asset and corporate administration services, has announced that it has entered into an agreement to acquire Luxembourg Investment Solution S.A. (“LIS”) and Compliance Partners S.A. (“CP”) (together “the Companies”).
LIS is a leading third party Alternative Investment Fund Manager (AIFM) with assets under administration in excess of €8.3 billion. LIS is authorised to deliver Management Company (“ManCo”) services to both Alternative Investment Funds (AIFs) and open ended mutual funds (UCITS) within the EU. CP provides primarily corporate services to its clients. The transaction is conditional upon certain regulatory clearances and is expected to complete in Q1 2018. LIS is regulated under the supervision of Commission de Surveillance du Secteur Financier (CSSF).
Founded in 2011, the Companies employ more than 70 people, the majority of whom are based in Luxembourg and a small operation in Dublin. The business 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, are both highly profitable and cash generative, and have a very strong reputation for high levels of client service.
The combined businesses will employ more than 100 people in Luxembourg and offer an integrated fund administration, depositary and AIFM platform to its global clients. Luxembourg is an important leading international financial centre for the global alternative investment funds industry and this acquisition provides SANNE with a great opportunity to expand and grow its platform in Luxembourg, enhance SANNE's new funds proposition in Dublin and grow its existing EMEA operations. This acquisition will re-position SANNE strongly in Luxembourg as one of the leading providers of alternative asset and corporate administration services.
The acquisition is expected to be immediately earnings enhancing. It is conditional upon, among other things, regulatory clearance, and is expected to complete in Q1 2018.
Read the full press release here.
