Zedra enhances Funds Services in Luxembourg

ZEDRA, the fast-growing global specialist in Fund Services, today announces the acquisition of BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg (BIL). The transaction is subject to regulatory approval from Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (‘CSSF’). The acquisition strengthens and compliments ZEDRA’s existing fund and related corporate service offering in Luxembourg and is in line with the firm being recognised as a leading fund formation and administration provider globally. BFCS, which has been active for more than 50 years, offers a comprehensive suite of services and solutions in both the corporate and funds’ sector, ranging from services such as central administration for alternative investment funds, to legal secretarial, domiciliation, management, accounting, investor reporting and ESG services. BFCS’ clients currently include high-net-worth individuals, asset managers, investment and real-estate fund professionals making this latest deal an ideal fit for ZEDRA. The acquisition will boost ZEDRA’s presence in Luxembourg, known as the largest investment fund centre in the EU, from where investment managers can market their funds seamlessly throughout Europe. The deal reinforces ZEDRA’s commitment to driving company growth by developing and investing in its fund administration services with the Group having already established teams for regulated funds in Jersey, Guernsey, the Cayman Islands and Singapore. Also, in other jurisdictions ZEDRA caters for non-regulated funds. In October last year, ZEDRA appointed Wim Ritz to the newly created role of Global Head of Funds, based in Luxembourg, to signal the next stage of its strategic ambition to develop a robust international fund administration business. Upon regulatory approval of the deal, the BFCS business will be fully integrated within ZEDRA and staff will move to ZEDRA’s existing Luxembourg offices. Please read the full press release here.