Ocorian has completed the acquisition of Newgate Compliance, which was originally agreed on 22 September subject to regulatory approval.
Newgate Compliance is a London-based compliance consultancy and hosted regulatory solutions provider for funds clients, including established and first-time managers. It was founded in 2014 by Martin Herriot and Aron Brown.
It provides compliance consulting services, using the GATEway, a proprietary software solution that enables clients to track and meet their FCA regulatory obligations efficiently, and to comply with the spirit, principles and culture of the UK regulatory regime.
Ocorian says Newgate's suite of compliance and regulatory services enables it to provide asset managers operating in the regulated UK market with a complete end-to-end administration solution.
Newgate employees will join Ocorian's London team in its office at 20 Fenchurch Street. The Newgate Compliance business will continue to be led by Martin and Aron.
Legal counsel for Ocorian was White & Case, with financial and tax due diligence advice from Mazars and regulatory due diligence advice from Duff & Phelps.