The Financial Services Opportunities Investment Fund is increasing its stake in PraxisIFM to 21.4 per cent, following the financial services group’s listing on TISE.
The investment fund has acquired a further 12.4 per cent of the issued share capital of PraxisIFM Group, which provides professional services to private individuals, families and international corporate clients.
This transaction adds to the earlier acquisition by the fund of nine per cent of PraxisIFM.
The Financial Services Opportunities Investment Fund was launched in October 2016 by Ravenscroft, with the objective of investing in financial services-related businesses, primarily in global offshore financial centres, to provide investors with long-term capital growth.
News of the fund’s increased investment in PraxisIFM follows its acquisition of Jersey-based Trust company Consortia in January, a 20 per cent interest in Enhance Group and a five per cent stake in CORVID Holdings.