Acquisition of Link Fund Solutions (LFS) passes major milestone
Full satisfaction of this condition, and completion of the acquisition, remains subject to receipt of certain regulatory approvals in the UK and Ireland as well as the completion of other administrative formalities. Clearance from the Competition and Consumer Protection Commission of Ireland in respect of the transaction has also been received.
The acquisition of LFS is set to significantly broaden Waystone’s UK and Irish offerings to include alternative administration.
It will also add over US$190bn in assets under oversight and administration, and see 600 staff globally join Waystone, including the establishment of the Group’s first office in India where it will have approximately 150 employees on completion of the sale.
Nancy Lewis, Executive Chairwoman, Waystone said: “Today’s news represents a major milestone for both companies. We have made significant progress since signing definitive agreements in April and we remain on track to complete in October 2023.”
About Waystone
Waystone is a leading provider of institutional governance, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone is now supporting asset managers with more than US$2tn in AUM. Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.
About Link Fund Solutions
Link Fund Solutions is an independent provider of Authorised Fund Manager (AFM) and administrative services for £160bn of assets under oversight and administration with over 40 years’ experience of regulatory and administrative services including the establishment and ongoing servicing of the funds, working in partnership with investment managers, wealth managers, boutiques and sponsors.
Contact Details
Nepean press contact: Harry Roxburgh (+44 7814 372664)
[email protected]