Following approval by regulators, Ocorian - the former trust arm of Bedell Group - has completed the acquisition of MAS International (MAS), a Luxembourg and Mauritius based provider of fund administration and corporate services.
The acquisition will see Ocorian increasing its presence in Luxembourg to over 80 in-country experts as well as extending its capability in both regulated and unregulated funds and alternative investments, including AIFMD depositary services and will allow Ocorian to provide a full range of corporate and domiciliation services, including director services and office rental facilities.
Established in 2003, MAS has a diverse client base (private equity, financial institutions, listed companies) as well as a ‘Specialised PSF License’ for fund administration activities in Luxembourg. Following the acquisition MAS clients will benefit from a larger range of financial services offered by Ocorian’s existing global team across a number of international jurisdictions. These services include AIFMD depositary services, aviation, shipping and structured finance, assistance with employee share plans and a full family office and private client offering.
Nick Cawley, chief executive of Ocorian, said: “This is a hugely exciting development for us. In addition to an expansion of our Luxembourg capability, across both regulated and non-regulated funds, our clients will now be able to access an enhanced range of services across our alternative investment and corporate services business.”
Stewart Kam-Cheong, formerly chief executive at MAS International, added: “Joining Ocorian allows us to offer our clients a greater range of specialist financial services across a more diverse range of jurisdictions – including Asia. We’re delighted that the regulators in Luxembourg and Mauritius have approved the acquisition and we look forward to working with our new Ocorian colleagues.”
Financial terms of the transaction have not been disclosed.
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