Investment fund takes 20% stake in Enhance Group

Friday 09 December 2016

The Financial Services Opportunities Investment Fund has acquired a 20% stake in the Enhance Group.

Enhance says the acquisition "...will provide the necessary investment to support the company’s continued growth globally and facilitate its future business activities."

The FSOIF is a closed-ended investment fund administered by Praxis Fund Services Limited and managed by Ravenscroft Limited. The mandate of the FSOIF is to invest in offshore businesses, with focus on financial services.

The FSOIF’s sister fund the Bailiwick Investments Fund currently provides investment to other Channel Islands businesses including Sandpiper CI and Jacksons Group.

CEO of Enhance Group, James Painter, commented:

“I’m extremely proud of what the team at Enhance has achieved over the past 12 years through exceptional organic growth. We have already experienced rapid expansion and now have full service offices in five jurisdictions across the globe. However, we now want to take this to the next level and felt that the time was right to work with a strategic partner. We are delighted to have the opportunity to have secured investment from the FSOIF. This partnership is well suited to our goals of continued growth through delivering client focused treasury and investment solutions and will bring an exciting new dimension to our business in 2017.”