Alter Domus Group, a Luxembourg-based provider of fund administration and corporate services, has wrapped up its previously announced takeover of Chicago-based Cortland Capital Market Services.
Established in 2008, Cortland provides third-party fund administration and middle and back-office outsourcing to alternative investment managers, real estate private equity firms and credit funds.
Headquartered in Chicago, the firm has offices in New York, London, Los Angeles, Austin, Indianapolis, and China and manages over $180bn in assets.
Under the terms of the deal, which was originally announced in November last year, all 400 employees of Cortland have joined Alter Domus.
Cortland CEO Doug Hart has assumed the role of regional executive North America and has been given a seat on the group’s executive board.
The acquisition of Cortland is expected to help Alter Domus develop its private equity, real estate and debt offering.
Alter Domus said that it will leverage the expertise of the senior management team of Cortland to expand its offering into other regions.
Alter Domus CEO Laurent Vanderweyen said: “We are delighted to welcome the Cortland team to Alter Domus as a major step in our long-term strategy to develop the US market as one of our key locations in offering vertically integrated services to our international client base.
“Cortland has an impressive track record of growth, a strong management team, and the same focus on quality and client service which has been at the core of Alter Domus’ own success over the years.
“Our combined services offerings will provide our clients and prospects with seamless access to Alter Domus’ global reach of offices and service lines for all of their US and international needs.”