Corporate services provider Sanne has entered into an agreement to acquire International Finance Services and IFS Trustees. The transaction is set to complete in Q1 2017 following regulatory and shareholder approvals.
The IFS Group is a Mauritius-based provider of fund and corporate administration services to corporates and alternative asset managers. Founded in 1993, it provides services to more than 1,000 global entities and has assets under administration in excess of $82bn.
The group has a large revenue base across funds and corporate structures for investment into India and Africa. It has a largely institutional client base, with a high concentration of assets under administration funded from the US or Cayman.
Mauritius is one of the leading international financial centres for foreign investment into Africa and India. The acquisition gives Sanne a significant platform from which to expand exposure to emerging markets and to clients looking for support with emerging markets’ structuring requirements.
The IFS Group will form the core of a standalone division operating as Sanne’s new emerging markets-focused platform. Sanne’s management team will work with the IFS Group’s management team (who will remain unchanged post-acquisition) to integrate staff, clients and systems into the Sanne operating model.