Global wealth and fund solutions provider Zedra has reached an agreement to receive a minority investment from British Columbia Investment Management Corporation (BCI).
This will be made in partnership with Zedra’s management team and the firm’s existing majority investor Corsair, who will remain the majority shareholder.
The financial terms of the deal were not disclosed and the transaction is subject to regulatory approvals.
Bart Deconinck, executive chairman at Zedra, said: “We are excited to partner with BCI, who brings significant resources and expertise, and will enable us to continue building on the significant accomplishments we have achieved with Corsair’s strong support.
“Together, we have built a successful, sustainable and innovative business with the expanding global footprint required to deliver bespoke solutions across the private client, corporate services and fund administration sectors. As Zedra enters an exciting new stage of our growth story, we look forward to enhancing our offerings and providing best-in-class services to meet our clients’ continually evolving needs.”
Raja Hadji-Touma, partner at Corsair, added: “We are grateful for our successful partnership with the Zedra team and are delighted to welcome BCI as an investor alongside us. This investment is a testament to Zedra’s continued success executing on its growth plan, demonstrated by the company’s impressive team, product and geographical strategic expansion. We look forward to supporting Zedra’s continued success as a majority shareholder through this next phase of their growth.”
Jim Pittman, executive vice president & global head of private equity at BCI, said: “We are impressed by the strong business and market position built by Bart, Ivo and the Zedra team, and we are excited to partner with Corsair to build on this success through organic and inorganic growth opportunities for ongoing expansion.
“The corporate services and fund solutions sector is a core area of focus for BCI, and we look forward to generating attractive returns for our pension plan and insurance fund clients through this investment.”