ZEDRA has agreed to purchase JP Integra Group, a Cayman-based fund, corporate and trustee services provider, for an undisclosed sum.
JP Integra offers advice on operating structures for wealth management, joint ventures, asset protection as well as collective investments. The business currently oversees more than $6bn in assets for private, institutional and sovereign clients.
The deal is pending regulatory nod and expected to be wrapped up in the first half of next year.
Post deal completion, JP Integra will be integrated within ZEDRA and renamed.
ZEDRA already has a presence in Cayman, which provides trust services. On the other hand, JP Integra offers private wealth services, private funds, private equity, and corporate management services in the region.
The addition of JP Integra to its roster is said to complement ZEDRA’s service offering in Cayman. After the merger, employees from the two offices will form part of a single team.
JP Integra CEO Peter Cockhill said: “At JP Integra, we’ve always endeavoured to be a solutions-focused provider, offering bespoke services to clients.
“By joining ZEDRA we’re able to maintain this approach and we’ll be able to do even more for our clients; joining a team whose fund experience paired with our own is particularly appealing.”
Directors of the two companies will continue to serve in their existing capacities. Cockhill will assume the role of managing director of the merged entity.
ZEDRA group director of corporate, funds and legal Ivo Hemelraad said: “JP Integra’s award-winning team will enhance the scope of fund services that we’re able to offer our clients.
“By complementing our already extensive in-house expertise and capabilities, we’re looking forward to being able to add even greater value to the fund services ZEDRA can deliver today.”