Asset management consultancy MJ Hudson has continued its growth trajectory by agreeing to purchase Irish funds service provider Bridge Group.
The acquisition is said to boost the asset management consultancy Outsourcing division’s revenues, staff numbers and capabilities substantially.
The acquired entity will adopt the MJ Hudson brand upon deal completion.
As part of the deal, Bridge Group directors and staff will join MJ Hudson and retain their existing positions.
Bridge Group director and co-founder David Dillon said: “We had been looking for a partner, rather than an investor, to strengthen our footprint, internationally.
“Joining MJ Hudson hits a number of sweet spots: it strengthens our ability to provide clients with access to a regulated management company and governance services in Ireland, the UK, Luxembourg, and Guernsey; further, the merger gives Bridge clients access to a broader range of resources and international consultancies, such as MJ Hudson’s specialist ESG Consultancy and its provider of Operational Benchmarking services.”
The deal, which awaits regulatory nod, builds on the acquirer’s specialist funds business in London, Luxembourg and Guernsey.
Set up in 2005, Bridge Group provides regulatory compliance, domiciliation and risk services.
The firm offers third party management services to UCITS and alternative investment fund platforms.
It has a permanent workforce of 27, who serve 100 asset managers with assets of over €120bn.
MJ Hudson CEO Matthew Hudson called the takeover a “key milestone” for its Manco and regulatory platform offering.
Matthew Hudson stated: “It means we can now offer clients representation in each of the principal UK and European fund centres, as Brexit approaches.
“Together with our equivalent London, Luxembourg and Channel Islands offerings, MJ Hudson is now one of the largest independent (not part of a banking group) regulatory platforms for asset management clients, and especially alternatives.”
A year ago, MJ Hudson announced the acquisition of Jersey administrator Anglo Saxon Trust.
In July 2019, MJ Hudson snapped up Spring Associates Responsible Investment Service, an Amsterdam-based ESG consultant.