Corsair Capital has acquired a majority stake in global trust, corporate and fund services provider Zedra Group from its owners, the Nielsen and Sarikhani families.
Financial terms of the deal, which is subject to regulatory approval, were not disclosed.
Once completed, which is expected in 2019, Zedra’s group deputy chairman Bart Deconinck will become group executive chairman.
Derrick Estes, managing director at Corsair Capital, said: “Zedra is a unique firm with unparalleled capabilities in the trust, corporate and fund services space.
“We believe our strategic investment, deep financial services expertise and global network will be critical as Zedra continues its rapid growth.”
Highly fragmented industry
Raja Hadji-Touma, managing director at Corsair Capital told International Adviser that the firm’s acquisition of Zedra “fits squarely into our strategy of investing in high-performing, specialist financial services companies with strong growth prospects”.
“Zedra is a robust player in a highly fragmented industry, which presents exciting acquisition opportunities for the business.”
A key driver of the acquisition is a belief that “the trust and corporate services industry is entering an exciting phase of its life cycle, with compelling growth prospects driven by a range of economic and regulatory factors”, Hadji-Touma added.
Niels Nielsen, Zedra Group chief executive, said: “I am tremendously proud of what we have achieved in the past three years and I am equally optimistic about the future of Zedra.
“Our new strategic partnership with Corsair creates opportunities for significant development, and Corsair’s extensive knowledge and experience in the sector will be invaluable to the team and clients.”
Zedra’s network covers 13 jurisdictions across 15 offices in Asia, Oceania, the Americas and Europe. It delivers trust, corporate and fund services solutions to clients, including high net worth individuals and their families, international corporations, institutional investors and entrepreneurs.