Canada-based British Columbia Investment Management (BCI) has agreed to make a strategic investment in the UK-based specialist fund service provider ZEDRA.
The investment will be made in partnership with Zedra’s management team and its existing investor Corsair, who will remain the majority shareholder.
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Financial terms of the deal were not disclosed.
Established in 2016, ZEDRA tailored solutions are designed to protect the value of clients’ assets and support businesses growth.
The company’s customer base includes high-net-worth (HNW) individuals, entrepreneurs and families as well as multi-national companies, corporate pension schemes, asset managers and their investors.
ZEDRA executive chairman Bart Deconinck 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.
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By GlobalData“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.”
BCI Private Equity global head Jim Pittman noted that the corporate services and fund solutions sector is a core area of focus for BCI.
The investment in ZEDRA will generate ‘attractive returns’ for BCI’s pension plan and insurance fund clients, according to Pittman.
He 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. “
In March 2021, Zedra bought BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg.
In September, the firm opened an office in Liechtenstein to provide active wealth services to its expanding client base in Europe.
