SGG Group buys Augentius
GLOBAL investor services firm SGG Group is buying Augentius, which provides alternative investment solutions to the private equity and real estate sectors.
Augentius, which employs more than 650 professionals, offers a suite of fund administration, depositary, regulatory and compliance services to institutional investors across 13 jurisdictions including the UK, Guernsey, the US, Luxembourg, Singapore and Hong Kong.
The transaction, which is subject to regulatory approval, reinforces SGG Group’s position as the fourth leading investor services firm in the world with the deal growing its assets under administration to more than $400bn, and further strengthens its reach and footprint.
‘This acquisition is in line with our ongoing commitment to developing our product offering and geographical reach to become the leading global partner for the alternative investment industry, said SGG Group’s CEO Serge Krancenblum.
He said that the acquisition of Augentius represented a transformational milestone for SGG, adding: ‘I am certain that there is an excellent cultural alignment between our two firms as both businesses put clients and its people at the core of what they do. Together we will take our combined group to new heights.’
Ian Kelly, CEO and executive director of Augentius, said: ‘This is a hugely exciting opportunity as this deal will bring a wealth of new opportunities for our newly combined businesses, and especially for our clients. SGG Group is one of the main consolidators of the industry and we are pleased to join forces with a global investor services firm which has the ambition to build a sustainable firm for this generation and the next.’
SGG Group was advised by Baird on the transaction and Augentius was advised by William Blair.
The news comes as SGG Group announced that regulatory approval has been received and the transaction to acquire First Names Group has successfully completed.
The firm said the deal considerably strengthened its reach and capabilities in key markets such as Jersey, Guernsey, the Isle of Man, Switzerland, Cyprus and Ireland with the combined group becoming a significant force in the provision of investor services to ultra-high-net-worth families, corporates and fund clients worldwide.
A comprehensive review of the newly combined group’s brands is currently under way and until this review is completed all businesses will continue to operate under their existing brand names.
