Sanne acquire Mauritius-based fund and corporate administration business

Friday 02 December 2016

Sanne has entered into an agreement to acquire International Finance Services Limited and IFS Trustees.

The transaction is set to complete in the first quarter of next year following regulatory and shareholder approvals.

The IFS Group is a Mauritius-based provider of fund and corporate administration services to corporates and alternative asset managers. Founded in 1993, the IFS Group provides services to more than 1,000 global entities, and has assets under administration in excess of $82 billion.

Dean Godwin, Chief Executive Officer of Sanne, commented: 
"This acquisition enables Sanne to further realise its ambition of building a leading, global business. The IFS Group is highly profitable, with a service offering and client base extremely complementary to Sanne’s. Mauritius is one of the leading international financial centres for foreign investment into Africa and India and this transaction provides us with a significant platform to both support clients in these attractive regions and grow our emerging markets presence. I am delighted to welcome the IFS Group team to Sanne and we are excited about the opportunities to come.’"

Couldiplall Lala, Founder Director of IFS, commented:
 "We are extremely proud of the business that we have established over the past 20 years and, whilst Sanne is a large organisation with global reach, they share many similarities with our business, in particular the value they place on client service. We look forward to being an integral part of the next phase of growth."