Irish fund administrator and fiduciary services provider Centaur will become part of the of Waystone Group subject to regulatory approval.
Asset management industry service provider Waystone said the transaction will significantly broaden the group’s service offering to asset managers and their investors.
Waystone said the deal represents the first time a leading third party management company has moved to integrate a fund administrator to complement its service offering, rather than the established route of fund administrators adding management company services.
“It also sees Waystone double down on its home base of Ireland, where alongside the recently announced transaction with KB Associates, it will finish the year at close to 500 Irish based employees,” the group said in a press release.
Centaur will also grow Waystone’s presence in North America.
Ronan Daly, founding partner at Centaur, said that for the next phase of the company’s growth joining together with Waystone was the logical option.
Derek Delaney, global CEO of Waystone, said the deal represents a major achievement.
“[W]ith Centaur we are gaining a highly-experienced senior management team with similar culture and values and we will also gain additional global locations including New Jersey, Bermuda and Canada. We are quietly proud that, as with KB Associates, Centaur has chosen to join the emergence of the only truly international Irish financial services firm,” he said.
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