Fund, corporate and private wealth services provider Suntera Global has entered into an agreement to acquire fund administration and corporate services provider Khepri Limited.
The deal is subject to regulatory approval and is expected to complete in the second half of the year.
Headquartered in London, Khepri provides fund administration services to asset managers.
The firm services £6bn in assets under management (AUM) on behalf of clients, working predominantly with managers in the UK across venture capital, emerging private equity and real estate.
Suntera’s acquisition of Khepri follows the announcement that Valeas Capital Partners will acquire a majority stake in Suntera.
The firm said that as part of the agreement, Valeas would commit “significant” new equity capital to support Suntera’s expansion.
David Hudson, CEO of Suntera, said: “We remain focused on expanding our international footprint, through both organic and inorganic growth, with an emphasis on asserting our specialised capabilities and a diversified proposition across geographies and service lines.
“This addition of Khepri, a high-quality growth business with an impressive team and a strong track record, is a reflection of that, adding a vital capability for Suntera in the UK, strengthening our ability to support alternative asset managers and complementing our existing global fund administration proposition.”
Will Roxburgh, Managing Partner at Khepri, described the agreement as an “exciting milestone” in Khepri’s journey, adding that Suntera was a “perfect fit” for the firm’s team, clients and culture.
“By joining Suntera we have been enabled to leapfrog some of our own objectives in ensuring that we can continue to support our existing clients whilst being able to offer a wide range of additional services across multiple jurisdictions,” he said.
“Our objectives have been aligned from day one and as we enter this next phase of growth, we are greatly looking forward to working with David and the wider Suntera team.”