The DMS Group has come to an agreement with two fund management companies – Luxembourg-based MDO and Dublin-headquartered MontLake – to create a global governance and third-party management company.
The resulting company will offer an extensive portfolio of services and operate from eight global locations, including four European offices, with over 260 employees, as it extends further into key markets, the companies said in a joint-press release. The financial terms have not been disclosed.
Derek Delaney, DMS Global CEO, said, “As our industry continues to evolve rapidly, we identified a demand from clients for a robust and comprehensive service provider and, following this deal, our clients will now be able to take full advantage of an expanded suite of services.
He said the transaction, which is still subject to regulatory approval, “is an opportunity to combine the expertise and depth of experience of DMS, MDO and MontLake to create a third-party management company offering that is unparalleled in terms of talent and the extent of services provided.”
DMS said on its website that client services would continue uninterrupted, with no change to day-to-day contacts or the way client data is managed.
The investment would allow DMS to grow both in terms of range of services and by increasing global reach as the group expands into new European markets and creates “one complete platform across Europe”.
DMS leadership and the management team will remain the same with further management additions from MDO/MontLake and promotions from within the existing team, DMS said.
Martin Vogel, CEO of MDO, said “the combined companies will deliver substantial benefits for clients and employees, bringing together three highly successful and complementary organisations with proven track records and a shared, strategic commitment to achieve growth.”
Cyril Delamare, CEO of MontLake added: “Partnering with DMS and MDO is a significant milestone for MontLake and further strengthens our product offering, together with increasing our global physical presence in new jurisdictions including Luxembourg, the U.S. and the Cayman Islands.