Global wealth and fund solutions provider Zedra has acquired investment fund administrator Atlas Fund Services for an undisclosed sum.
Atlas was founded in 2006 and has bases in Charlotte, North Caroline and Willemstad, Curaçao, from where it serves US-based investment managers as well as family offices in Europe, Brazil, the US and Latin America.
The acquisition grows Zedra’s foothold in the fund services sector in the US and Latin America, following the purchase of Axelia Partners in early 2022.
The M&A deal comes after the wealth services provider received financial backing from Canada’s British Columbia Investment Management Corporation in March 2022.
Ivo Hemelraad, chief executive of Zedra, said: “With this deal, we continue to expand our global presence providing in the US both global expansion and fund services in the largest single market globally.
“The additional expertise and resources that the Atlas Fund Services team brings will be instrumental in enlarging our capabilities in the US but also in servicing the Latin American funds market through their office in Curaçao.
“This complements our available fund capabilities in the region through our Cayman Islands office and supports our ambition to become an international leader in the funds services industry. We welcome the Atlas Fund Services 48 new colleagues and valuable clients, and look forward to collaborating on shared goals.”
Global expansion
Wim Ritz, Zedra’s global head of funds, added: “We are confident in our fund services capabilities, having established a strong presence in European markets and more recently in Singapore. We are looking to the US and expect to grow rapidly in this core market, which represents 48% of the global alternative investment market share. Atlas Fund Services team is the perfect match to succeed in this.”
Maarten Robberts, managing director of Atlas Fund Services, said: “We believe that Zedra is a strong cultural fit. The firm shares our aspirations to provide the best possible fund administration solutions to clients in a personalised manner.
“Our strong commitment remains to not follow the current industry trend of offshoring all services to low-cost countries. Now part of Zedra, we will continue to uphold this commitment and use the additional resources available to us to achieve greater efficiency and added value for our clients through smart automation.
“The union of Atlas’ expertise in fund solutions and Zedra’s significant industry presence will also provide new opportunities to their respective clients, who now have access to a wide array of active wealth protection and family business management solutions as well as innovative alternative investment fund structures.”
