IQ-EQ has completed the acquisition of Constellation Advisers, a US-based outsourced investment management services provider.
The transaction follows IQ-EQ's acquisition of US outsourced solutions provider Blue River Partners in 2020, and the integration of that business into the group. The process of integrating Constellation Advisers into IQ-EQ’s US businesses will begin immediately.
Founded by Boris Onefater (CEO) and Greg Farrington (President), Constellation Advisers provides solutions to traditional and alternative investment management firms, including private equity, real estate, private credit, venture capital, hedge funds and family offices. It has 115 staff across six offices across the US.
Following the acquisition, IQ-EQ now has more than 320 staff in the US, specialising in regulatory compliance, fund administration and outsourced services.
Mark Fordyce, CEO of Blue River and IQ-EQ US Funds, will take overall responsibility for the group’s expanded US operations.
Constellation's Onefater will become Chairman, Global Head of Outsourced Services, while Farrington will be President and Head of Outsourced Services, Americas.
IQ-EQ will retain the Constellation Advisers brand name in the short to medium term, but eventually plans to rebrand the business to IQ-EQ.
IQ-EQ Group Executive Chairman Serge Krancenblum (pictured) commented: “This transaction represents another significant milestone made possible by the ongoing investment in our US operations, and takes us one step closer to realising our longer term commercial ambitions in the region.
"Constellation Advisers’ sector expertise and focus on client service makes it a good fit for our business and an important part of our US expansion plans.”
US law firm Seward & Kissel represented Boris Onefater and Greg Farrington in connection with the transaction.