Ocorian boosts fund offering with Allegro acquisition
22 April 2020 Luxembourg
Image: ParabolStudio/Shutterstock
Ocorian, a provider of bespoke administration and fiduciary services to corporate, institutional and private investors, has acquired Allegro S.à r.l., a Luxembourg-based third party management company (ManCo) and fund administrator.
Allegro is fully licenced to provide ManCo and fund administration services to alternative investment funds (AIF), reserved AIFs, non-AIFs and UCITS funds.
It has approximately €8.7 billion in assets under management primarily in underlying investment strategies, focusing on private equity and real estate.
Ocorian said that the acquisition will enhance its current fund administration and associated services across all investment structures and specialisms such as green energy, listed and private funds.
Allegro’s multiple regulatory licences allow it to provide comprehensive services in the alternative asset space.
Thomas Fahl, CEO of Allegro, said: “An expanded international footprint and specialist expertise means we can continue to deliver the levels of personalised service our clients are used to and now can also offer a significantly broader range of fund and fiduciary solutions.”
Fahl also explained that it will be “business as usual” for both Allegro’s employees and clients. “Our primary objective is to ensure that we retain the Allegro spirit and culture that has served its client base so well over the last twelve years,” he said.
Ocorian’s CEO, Farah Ballands, commented: “Acquiring Allegro is a major milestone for Ocorian and is the first acquisition that has completed since our transformational merger with Estera earlier this year. Allegro’s recognised track record and focus on providing high-quality client service will support Ocorian’s bold ambitions and growth plans.”
In November last year, Ocorain became authorised to act as a depositary to Alternative Investment Funds (AIFs) in Luxembourg Luxembourg after approval from the Ministry of Finance.
Allegro is fully licenced to provide ManCo and fund administration services to alternative investment funds (AIF), reserved AIFs, non-AIFs and UCITS funds.
It has approximately €8.7 billion in assets under management primarily in underlying investment strategies, focusing on private equity and real estate.
Ocorian said that the acquisition will enhance its current fund administration and associated services across all investment structures and specialisms such as green energy, listed and private funds.
Allegro’s multiple regulatory licences allow it to provide comprehensive services in the alternative asset space.
Thomas Fahl, CEO of Allegro, said: “An expanded international footprint and specialist expertise means we can continue to deliver the levels of personalised service our clients are used to and now can also offer a significantly broader range of fund and fiduciary solutions.”
Fahl also explained that it will be “business as usual” for both Allegro’s employees and clients. “Our primary objective is to ensure that we retain the Allegro spirit and culture that has served its client base so well over the last twelve years,” he said.
Ocorian’s CEO, Farah Ballands, commented: “Acquiring Allegro is a major milestone for Ocorian and is the first acquisition that has completed since our transformational merger with Estera earlier this year. Allegro’s recognised track record and focus on providing high-quality client service will support Ocorian’s bold ambitions and growth plans.”
In November last year, Ocorain became authorised to act as a depositary to Alternative Investment Funds (AIFs) in Luxembourg Luxembourg after approval from the Ministry of Finance.
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