Financial services provider Ocorian has agreed to buy MAS International, an independent fund administration company operating primarily in Luxembourg and Mauritius.
Subject to regulatory approvals and expected to close towards the end of 2017, the acquisition is designed to support Ocorian’s real estate and advisory services – aimed at both private and institutional clients – with MAS’s corporate services.
“All staff from MAS’s administration and corporate services business will join the combined operation to support and grow the client relationships that are at the core of this acquisition”, according to a statement issued by Ocorian on Tuesday.
“The two entities are excluded from this transaction and will continue to operate independently”, the statement added. The terms of the deal are not being disclosed.
The agreement between the two firms follows Bedell Trust’s management buyout
in September 2016, and the successive rebranding into Ocorian in November of the same year.
Ocorian is backed and funded by Inflexion, a mid-market private equity firm. Its global activities are carried out from offices in Jersey, Guernsey, London, Dublin, Mauritius, Singapore, Luxembourg and Cayman.