Investor services firm SGG Group has acquired Augentius, an alternative investment solutions provider for the private equity and real estate communities, for an undisclosed sum.
Headed by CEO Ian Kelly, Augentius offers a range of solutions covering fund administration, depositary, AIFMD reporting, regulatory and compliance. The business has over 650 employees operating from its branches in the US, UK, Guernsey, BVI, Jersey, Luxembourg, Philippines, Singapore, Amsterdam, Cyprus, Cayman, Mauritius, and Hong Kong.
“SGG Group is one of the main consolidators of the industry and we are pleased to join forces with a global investor services firm which has the ambition to build a sustainable firm for this generation and the next,” Kelly stated.
The transaction will increase SGG’s assets under administration to more than $400bn and its headcount to more than 2350 in 24 markets.
The deal is expected to close in the fourth quarter of this year, pending regulatory approval.
SGG CEO Serge Krancenblum said: “This acquisition is in line with our ongoing commitment to developing our product offering and geographical reach to become the leading global partner for the alternative investment industry.”