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June 15, 2020

IQ-EQ strengthens US presence with completion of Blue River acquisition

Investor services group IQ-EQ, previously known as SGG Group, has wrapped up the purchase of Blue River Partners after securing the go-ahead from regulators.

The integration of the two firms has started immediately. Financial terms of the transaction were not disclosed.

Blue River, a US-based outsourced solutions provider to alternative asset managers, will continue to operate under its existing brand.

In the US, it will market its offerings as ‘Blue River Partners, part of IQ-EQ’.

The consolidation is said to create an “industry-leading” alternative fund administration and outsourced services provider in the US and strengthen IQ-EQ’s position as one of the top four investor services providers worldwide.

The combined business will have 200 employees and over 500 clients across the US.

It will have offices in Dallas, Fort Worth, Houston, Austin, New York City, Chicago as well as San Francisco.

Blue River CEO and founding Mark Fordyce will serve as the CEO of the merged business.

Along with Fordyce, the board of the US business will include Blue River founding partner Michael Minces and IQ-EQ group CEO Mark Pesco and group head of Funds Justin Partington.

The deal, announced earlier this year, marks IQ-EQ’s first deal in the private equity and hedge fund services sector in the US.

Pesco stated: “This deal marks a significant milestone for the IQ-EQ team and another important step in our long-term strategic growth plan.

“Blue River’s entrepreneurial approach and clear commitment to delivering client service excellence make them a natural fit and an important part of our future U.S. expansion plan.”

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