Third deal in three weeks for fund focused on investing in financial services

Friday 23 December 2016

Jersey-based trust company Consortia is to be acquired by a specialist investment fund.

The Financial Services Opportunities Investment Fund, launched by Ravenscroft, has agreed terms to acquire 100% of the issued share capital of Consortia Partnership Limited (“Consortia”) and its wholly owned subsidiary companies for an undisclosed sum.

The deal, which is subject to approval from the Jersey Financial Services Commission, comes just weeks after the fund acquired a 20% stake in Enhance Group and a  5% interest in CORVID Holdings.

"The fund was launched in October 2016 to invest in financial services related businesses, primarily in global offshore financial centres, helping to grow those businesses and provide investors with an income stream and long-term capital growth," said Jon Ravenscroft, Group Chief Executive Officer at Ravenscroft and investment manager to the new fund.

"We have had a positive response from investors and from financial services companies who are keen to see how we might help them. To have agreed the third deal in as many weeks demonstrates our commitment and I am delighted that we have already made investments in companies which have real potential for growth."

"Consortia was formed with a wealth of experience, shared values of integrity, client focus and a vision to work with clients and their advisers to deliver innovative solutions. Those are attributes which are still true today and we believe that the fund and the wider Ravenscroft group share those values," said director Christopher McFadyen who founded the company with Michael Farrow, Nicholas Landor and Tim Scott Warren.