Vistra, a provider of trust, fiduciary and fund administration services, has snapped up the corporate services business of Deutsche Bank’s Global Transaction Banking arm for an undisclosed amount.

The Corporate Services unit offers management of special purpose vehicles (SPVs) and asset holding companies to banks, non-bank financial institutions and corporate.

The unit has operations in the UK, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and the US. All 139 employees of the business will join Vistra as part of the deal.

Vistra Alternative Investments group managing director Onno Bouwmeister said: “This acquisition marks another significant step in Vistra’s growth, broadening our presence in seven of our existing locations across Europe, the Cayman Islands and Mauritius. It gives us presence in Ireland, a key strategic jurisdiction particularly in light of the upcoming ‘Brexit’ process, and additional capability in Mauritius where the bulk of the back-office administrative activity is carried out to high quality standards.

“This additional expertise in the Capital Markets sector will have a significant impact on our Alternative Investments division, creating exciting opportunities for our new employees and clients alike.”

The deal is expected to be wrapped up in the first half of 2018, subject to regulatory nod.