Fund services provider Zedra Group has agreed to buy LJ Fiduciary for an undisclosed sum. The transaction is pending regulatory approval.

The seller is an investment firm Alvarium.

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The deal is said to be aimed at strengthening Zedra’s hold on the ‘active-wealth’ space.

With a presence in Switzerland and Isle of Man, LJ provides global private client, fund and corporate administration services.

Upon deal completion, LJ will integrate into Zedra after getting renamed.

LJ head Robert Burton: “By joining forces with Zedra we believe our clients will benefit from enhanced global reach and a very positive cultural fit in a combined firm which will continue to focus on delivering high quality services to meet client needs.”

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Zedra will absorb around 50 LJ employees as part of the transaction, taking its staff strength in Switzerland to more than 70 and over 100 in the Isle of Man.

Currently, Zedra has a workforce of more than 500, operating out of 13 countries across Asia, Oceania, Europe, and the Americas.

Zedra director Ivo Hemelraad said: “This acquisition will give us an important opportunity to fast track our growth by diversification into different client segments in these two jurisdictions, Switzerland and the Isle of Man.

“It will reinforce mutual strengths and strong existing market positions.”

The latest deal continues Zedra’s recent consolidation activities.

Its recent purchases include Talenture, Interben Trustees, and JP Integra Group.

Notably, this September, Zedra forayed into the digital assets space through a partnership with digital custodian Vo1t.