Inversis, a wholly owned subsidiary of Banca March Group, is to acquire a 40 per cent stake in Adepa, a Luxembourg based fund administrator with UCITS and Alternative Investment Fund Manager licenses.
By leveraging Adepa’s operational centres in Spain, Luxembourg, Italy and Chile, both companies will be able to offer more services, while tapping into new market segments to accelerate international growth.
The alliance will provide a ManCo and fund administration solution for Southern European and Latin American markets, while increasing the growth of both companies' managed vehicles in local markets, as well as internationally, using Luxembourg-domiciled fund structures.
In Spain, Inversis and Adepa have agreed to consolidate all administration services in Adepa’s Spanish subsidiary, while Inversis Gestión will continue to provide ManCo services.
The deal includes the option for Inversis to increase its shareholding in Adepa up to 100 per cent after seven years.
The acquisition is subject to the approval of Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), and will be achieved partially through the purchase of shares from the controlling shareholder and through a dedicated increase of capital.
Alberto del Cid, CEO of INVERSIS, says: "The signing of this alliance and the following acquisition of 40 per cent of Adepa will allow us to expand the range of solutions and services we provide to a key segment of our clients, investment and pension fund managers and, in particular, private equity fund managers.
“The family nature of both groups, as well as a shared vision and values in terms of long-term commitment to our clients, makes this a very good cultural fit. We are confident that this alliance will advance the development of new markets and solutions for our clients.”
Carlos Alberto Morales, shareholder, founder and CEO of ADEPA, adds: “Having the same vision, shared objectives, and the ambition to create a unique international fund services business provides a solid foundation for the partnership with Inversis. Together, Adepa and Inversis will offer asset and wealth managers a unique offering that is unmatched in terms of the breadth and depth of our solutions."
