Investor services firm SGG Group has wrapped up the acquisition of alternative investment solutions provider Augentius after securing regulatory approval.

The deal, whose financial terms were not disclosed, was first announced in July this year.

It boosts SGG’s assets under administration to more than $400bn. As of now, the acquired entity will retain its current brand.

Augentius managing director of UK and Ireland and former CEO and executive director Ian Kelly said: “We have found in SGG a partner that shares our values and our drive to build a sustainable business which provides the highest quality of service to fund managers and their investors.

“The remaining Augentius executive team has re-invested in the combined business as we strongly believe in the future of this firm.”

The merged group operates in 24 locations with a workforce of more than over 2,450.

Among the services provided by the merged entity include fund administration, regulatory hosting, depositary, FATCA/CRS, investor solutions, AIFMD reporting, and regulatory compliance.

With the transaction, SGG is said to become the fourth largest independent investor services firm globally.

SGG group fund solutions leader Justin Partington said: “The completion of the Augentius’ acquisition marks a very important milestone for SGG.

“It reinforces our commitment to become the leading global partner for the alternative investment industry, offering a comprehensive spectrum of services to asset managers and their investors in all key fund domiciles.”