Estancia Capital Partners, an Arizona-based private equity fund, has acquired a minority interest in Bermuda based Equinoxe Alternative Investment Services, joining XL Group as a strategic investor in the firm.
Equinoxe is a full-service alternative investment fund administration company that has over US$12.5 billion of assets under administration (AUA) from over 150 alternative investment funds.
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Equinoxe will reinvest the proceeds of the investment into the firm to i) launch new client coverage offices including Singapore and Malta, ii) expand the features of its cutting edge solutions for hedge funds, private equity funds and insurance clients, and iii) hire additional client service and operational personnel around the globe.
Following the deal, Equinoxe will continue to operate independently and under the control of the existing management team that owns a equity stake in the business, Estancia said.
Danny Kang, a partner at Estancia, said: "Equinoxe is a service provider within the global alternative investment fund administration space led by a proven management team that has previously successfully built two similar service businesses.
"We look forward to working closely with the team to source acquisition opportunities, support new product solutions and execute on its strategic corporate development plan leveraging Estancia’s deep network of relationships including alternative managers, lawyers, accountants and industry consultants," Kang added.
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