Atlantic Fund Services has completed the acquisition of Moventum, a Luxembourg-based distribution platform for independent funds and advisors.
Atlantic acquired the 81.36% share capital held by US company Global Portfolio Advisors and the Banque de Luxembourg’s 18.64% holding.
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Moventum currently holds 3.5bn in assets under administration. The transaction has received the go-ahead from the Luxembourg regulator, CSSF.
Roman Lewszyk, chairman and CEO of Atlantic’s European business, said: "This acquisition will provide a powerful blend of Moventum’s experience in product distribution and IFA support, together with Atlantic’s state-of-the-art technology solutions."
Moventum distributes funds in 120 markets across the globe, supporting financial advisors, insurance companies, funds of funds and banks in 19 jurisdictions, while holding distribution agreements with 450 companies for over 9,000 funds.
Atlantic has been operating in the US market since 1986, in Poland since 1996, and in Luxembourg since 2011.
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