US-based fund administrator Standish Management has agreed to acquire Luxembourg-based peer Halsey Group.
Financial terms of the acquisition were not divulged.
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Founded over 20 years ago, Halsey delivers specialised fund administration and corporate services to alternative investment managers.
The company counts international private equity and real estate investment firms globally as its clients.
With this deal, Standish expands its service offering as well as adds Halsey’s customers in the US and UK to its clientele.
On the other hand, the takeover enables Halsey to benefit from Standish’s forte in PE, VC, and Real Estate funds.
Standish head of Europe Owen Kiely said: “We are delighted to welcome the Halsey Group team to Standish as the first step in our long-term strategy of expanding our global servicing capabilities.
“With interest growing for European-domiciled fund vehicles, on top of the EU Alternative Investment Fund Managers Directive, Luxembourg has emerged as the leading European domicile for alternative asset funds.
“By joining forces with Halsey, we believe we significantly strengthen our ability to serve the evolving administration needs of our existing and future clients in Europe.”
The deal is awaiting regulatory approval. Once complete, the acquired firm will be rebranded as Standish Management Luxembourg.
Halsey managing director Christophe Gammal said: “Both firms share the same client-centric culture and we believe that Standish’s stellar reputation of delivering best-in-class services in the U.S. fund administration market gives us the ideal platform to further accelerate our success in building a leading European fund administration practice.
“The entire Halsey team is excited to further develop their careers with Standish.”
