Investor Services group IQ-EQ has acquired Davy Global Fund Management (DGFM), part of Irish financial services business Davy Group, which serves a domestic and international client base from its offices in Dublin, London and Luxembourg.
The combination of IQ-EQ and DGFM creates a full service funds business in Ireland with a proven track record and prominent market position.
The transaction, which is subject to regulatory approval, is expected to complete by the end of 2021, after which DGFM will rebrand to IQ-EQ.
Formed in 2014, DGFM today employs 83 people – 68 in Dublin, 13 in Luxembourg, one in London and one in Chicago. The firm specialises in real estate manco services in Ireland, focusing on the private equity space.
The newly combined Irish business, which will offer corporate administration, fund administration, fund management and portfolio management services, will comprise 110 employees located in Dublin and Shannon.
Following receipt of regulatory approval, DGFM CEO Tom Berrigan and Managing Director Paul Giblin will join the IQ-EQ UK and Ireland senior leadership team.