Vistra has completed the acquisition of Phoenix American Financial Services to expand the company’s presence in US fund solution markets.
The deal includes the acquisition of Phoenix American’s platform STAR-XMS, which tracks investors and transactions to assist in fund performance reporting.
The companies say this will broaden Vistra’s private market capabilities and enable clientele to attain new distribution channels with US investors.
CEO of Vistra Group, Simon Webster, states: “This significant upgrade to our capabilities in the US will help us to support our North American clients’ growth as well as provide new access into the US market for our clients across the world.”
Andrew Constantin, chief operating officer of Phoenix American, adds: “Vistra reflects an excellent strategic and cultural fit between our two organisations due to our shared focus on core values, client commitment and a deep bench of talented employees.”
As part of the deal, chief strategy officer of Phoenix American, Zane Doyle, will join Vistra. Commenting on the transaction, he states: “The US is the world’s largest marketplace for private market funds and administration solutions. This transaction represents a major growth opportunity over the next five to seven years.”
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