Global investor services firm SGG Group announced it is in the final stages of closing the acquisition of Sinclair Fund Services Ltd, a boutique fund administration company based in the Cayman Islands. The Cayman Islands Monetary Authority has approved the transaction and the deal will be closed in the coming weeks.
Sinclair Fund Services will be re-branded as Global Fund Solutions SGG Cayman Limited. The managing director for the Cayman office will be Selma Lee Arch, who was founder and managing director of Sinclair Fund Services Ltd.
“We are delighted to be joining forces with the SGG Group, which has an impressive experience in the fund industry and a strong focus on meeting the evolving demands of its international client base,” she said.
Justin Partington, Fund Solutions Leader, SGG Group said the driver of the group’s expansion into Cayman has been to support and better serve clients. “Several of our top-tier fund manager clients have asked us to service their Cayman requirements.
“In order to complete our service offering, we are also in the process of obtaining a Company Management License to provide corporate services from the Cayman Islands,” he said.
Bas Horsten, Managing Director, Market Leader Caribbean and Latin America added that as one of the world’s leading domiciles for funds solutions Cayman is “a key location” for the fund manager’s clients’ structures.
“We are actively adding clients and staff to the platform in order to further build out our global funds offering,” he said.