Sanne enters into an agreement to acquire PraxisIFM Funds business

Sanne Group plc has entered into an agreement to acquire the PraxisIFM fund business. Formed in 2005, the PraxisIFM Funds Business is one of the leading players in the European listed funds sector and augments Sanne’s existing presence in this important market. It also increases Sanne’s footprint in important European Private Equity markets. The transaction adds over 80 employees and more than £25 billion of assets under administration to Sanne, with offices in Guernsey, Jersey, London, Luxembourg and Malta. Sanne and the PraxisIFM Funds Business have a close cultural alignment, sharing a strong focus on delivering high quality client service. The PraxisIFM Funds Business has consistently delivered double digit revenue growth in recent years and is a strategically important acquisition that will increase Sanne's presence in the locations mentioned above. The transaction is dependent on obtaining regulatory approval from the relevant bodies and is expected to complete in Q4 of 2021. Read the full announcement here.