Fiduciary and administration provider Estera has acquired Luxembourg-based third-party management company Allegro.
The deal, which was agreed on 20 September, is subject to regulatory approval in Luxembourg.
Allegro, which was founded 10 years ago, is a licensed and regulated fund management company providing services in the alternative asset space. It provides AIFM and fund administration services to AIF, RAIF, non-AIF and UCITS funds with around €8.2bn in AUM. Its clients are large-scale institutional investors, international fund promoters and investment managers.
Estera CEO Farah Ballands commented: “This acquisition enables us to provide our clients with investment fund services in Luxembourg and adds depth and breadth to our existing funds offering."
It will be "business as usual for Allegro’s employees and clients”, she added. The firm will continue to be led by Manuel Hauser, the founder and CEO of Allegro.
The acquisition means Estera now operates in 11 jurisdictions, including Jersey and Guernsey.
Advisers involved in the transaction included Travers Smith, Allen & Overy Luxembourg, Duff & Phelps and Deloitte Luxembourg for Estera, and Clifford Chance for Allegro.
Pictured (l-r): Ethan Levner, Estera Group Head of Corporate Development; Farah Ballands, Estera Group CEO; Manuel Hauser, Allegro CEO