Sanne to acquire leading Mauritius-based Fund & Corporate business, International Finance Services Limited

SANNE, a specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services, is to acquire International Finance Services Limited and IFS Trustees. The transaction is set to complete in the first quarter of next following regulatory and shareholder approvals. SANNE describes the IFS Group as a leading Mauritius-based provider of fund and corporate administration services to corporates and alternative asset managers. Founded in 1993, it provides services to more than 1,000 global entities, and has assets under administration in excess of US$82 billion. The IFS Group has a large existing revenue base across funds and corporate structures for investment in to India and Africa. The IFS Group has a largely institutional client base, with a high concentration of assets under administration being funded from the US or Cayman. SANNE notes that Mauritius is one of the leading international financial centres for foreign investment into Africa and India. This acquisition provides the company with a platform from which to expand its exposure to the emerging markets and to clients looking for support with their emerging markets structuring requirements. The IFS Group will form the core of a new standalone division operating as SANNE's new emerging markets-focused platform. SANNE's management team will work with the IFS Group's management team (who will remain unchanged post-acquisition) to integrate the Group's people, clients and systems into the SANNE operating model. Following the completion of the transaction SANNE says it will engage with more than 950 staff internationally, administer assets in excess of £160 billion and have global expertise spread across recognized international finance centres located in the Americas, Europe, Africa and Asia-Pacific. Read more about the acquisition here.