Corporate and fund services provider ZEDRA and private equity firm Corsair Capital LLC have announced the closure of Corsair’s majority investment in the group. The transaction, which was first announced on 28 Nov. 2018, has been approved by all relevant regulatory authorities.
Following the close of the transaction, Bart Deconinck, the former CEO of Intertrust and a founder of Vistra before he co-founded Zedra four years ago, has been appointed group executive chairman. Ivo Hemelraad, until now Zedra group director of corporate funds and legal, will assume the role of group chief executive officer.
Deconinck said ZEDRA was entering the next stage of its ambitious growth plans.
“Powered by a combination of the resources and expertise of Corsair, together with ZEDRA’s considerable experience in the sector, we are looking forward to a period of rapid growth and expansion of the range of services we offer to our clients,” he said in a press release.
“The major acquisitions we have made over the past year expand our footprint across Switzerland, the Nordic countries, Cayman and offshore UK jurisdictions, bringing additional clients and staff into the ZEDRA family,” he added.
Last year ZEDRA made several acquisitions and expanded its network with about 570 staff in 16 offices covering 13 jurisdictions across Asia, Oceania, the Americas and Europe.
“ZEDRA is a unique firm with unparalleled capabilities, and we are pleased to have closed this exciting investment,” said Raja Hadji-Touma and Derrick Estes, managing directors at Corsair Capital. “We look forward to partnering with an ambitious management team, led by Bart Deconinck, with a proven track record of building leading companies in the sector.
“We believe our investment and financial services expertise, along with the unmatched global network we bring to bear, will help support continued rapid growth at ZEDRA.”
ZEDRA provides wealth-management services to high-net-worth individuals, as well as medium- to large-sized companies, asset managers and their investors.