Alter Domus, a Luxembourg-based fund administration provider, is expanding in the outsourced ‘management company’ business with the acquisition of Luxembourg Fund Partners.
The deal, subject to approval, will see Alter Domus become a “one-stop-shop” for international managers wanting access to European investors under the Alternative Investment Fund Managers Directive (AIFMD), said the firm.
Terms of the deal were not given.
Management companies, known in the industry as ‘ManCos’, are legal entities that asset managers must have in order to satisfy regulatory requirements for ‘substance’ in fund domiciles such as Luxembourg and Ireland. Firms can outsource this requirement to ‘rent-a-managers’.
Earlier this year, consultancy PwC found that AIFMD ManCo’s now outnumbered traditional Ucits funds in Luxembourg.
On completion of the deal, Alter Domus will provide set-up support, administration and ManCo services to international fund promoters, the firm said.
Luxembourg Fund Partners was founded in 2009 by Luc Leleux and Julien Renaux as an independent management company.
Alter Domus CEO, Laurent Vanderweyen (pictured) said the deal “consolidates Alter Domus’ position as the recognised leader in fund services”.
Alter Domus has over $160 billion (€133 billion) of assets under administration.
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