Corporate services provider Sanne has entered into an agreement to acquire Luxembourg Investment Solution (LIS) and Compliance Partners (CP).
LIS is a third-party Alternative Investment Fund Manager (AIFM) with assets under administration in excess of €8.3b. It is authorised to deliver manco services to Alternative Investment Funds and open-ended mutual funds (UCITS) within the EU.
CP provides primarily corporate services to its clients.
The transaction is conditional upon regulatory clearances and is expected to complete in Q1 2018. LIS is regulated under the supervision of Commission de Surveillance du Secteur Financier.
Founded in 2011, the two companies employ more than 70 people, the majority in Luxembourg, with a small operation in Dublin. They provide alternative asset and corporate focused administration services to more than 60 clients and administer in excess of 100 fund structures.
The combined businesses will employ more than 100 people in Luxembourg and offer an integrated fund administration, depositary and AIFM platform to its global clients.