Luxembourg-based fund services provider Alter Domus has acquired Investors Economic Assurance (IEA), which offers technology solutions and services to alternative investment managers.
The deal, whose financial terms were not revealed, is part of Alter Domus’ growth strategy focused on providing vertically integrated solutions to private equity, venture capital, real estate, and credit investors.
IEA specialises in capital administration solutions including Limited Partners’ waterfall calculations and General Partners’ carried-interest allocations.
The firm’s proprietary technology platforms, CapAssure and CapAdministration, will complement Alter Domus’ technology stack.
In addition, IEA is expected to strengthen the company’s Manhattan office and coast-to-coast footprint.
Alter Domus Group CEO Doug Hart noted that North America remains as one of the strongest growth markets for Alter Domus.
Hart said: “Our unique heritage as a Luxembourg-based fund administrator with more than 50 percent of clients in the US has always been a source of strength for our global client service capabilities.
“We are pleased to bring on the IEA team and the incredible technology platform they have built and mastered over the years in our third US acquisition in six months.”
Commenting on the deal, IEA CEO Gary Shelto added: “Alter Domus Group is a fast-growing, ambitious fund administrator in the global alternative investments industry.
“We are excited to join forces with its highly entrepreneurial team of technology and fund experts to build a combined technology and services stack that adds value to managers across multiple asset classes and regions.”
In January this year, Alter Domus acquired Strata Fund Solutions, a US-based fund administrator that caters to private equity and venture capital funds, for an undisclosed sum.