SANNE to acquire US headquartered business

Monday 10 October 2016

SANNE is to acquire FLSV Fund Administration Services LLC ("FAS") for a total of £50.7 million.

FAS is a New York headquartered business offering fund administration and reporting services to alternative asset managers, primarily in North America. FAS has 115 employees, approximately 75 based in Manhattan, New York, with a further 40 based in a support office in Belgrade, Serbia.

SANNE says the acquisition represents an important strategic step for SANNE in establishing a high quality US platform from which to enter the large and fast growing US alternative assets fund administration market. 

Dean Godwin, Chief Executive Officer of SANNE, commented: "This is a significant milestone for SANNE, delivering a platform of quality and scale in the attractive North American market. FAS is led by a highly experienced and respected team that has fostered a culture very much aligned with our own, with a focus on providing the highest quality service to institutional clients. The US market offers considerable opportunities, particularly in the fast growing alternatives sector, and we look forward to working together to deliver the next phase of growth."

Jeffrey Hahn, Partner and CEO of FLSV Fund Administration Services LLC, added: "We are very excited to join SANNE. Being part of the larger SANNE platform will provide significant leverage to drive growth in North America and help us meet our clients' ever increasing global service requirements."