Estancia Capital Partners, L.P. (“Estancia”), a leading private equity fund focused exclusively on the global asset management, wealth management and related business services industries announced today that it has acquired a minority interest in Equinoxe Alternative Investment Services (“Equinoxe”) joining XL Group plc (NYSE: XL) as a strategic investor in the firm. Terms of the transaction were not disclosed. Equinoxe is an award-winning boutique full-service alternative investment fund administration company.
“Equinoxe is a premier service provider within the global alternative investment fund administration space led by a proven management team that has previously successfully built two similar service businesses,” said Danny Kang, a Partner at Estancia. “We look forward to working closely with the team to source acquisition opportunities, support new product solutions and execute on its strategic corporate development plan leveraging Estancia’s deep network of relationships including alternative managers, lawyers, accountants and industry consultants.”
Equinoxe will reinvest the proceeds of the investment into the firm to i) launch new client coverage offices including Singapore and Malta, ii) expand the features of its cutting edge solutions for hedge funds, private equity funds and insurance clients, and iii) hire additional client service and operational personnel around the globe. Equinoxe will continue to operate independently and under the leadership of the existing management team that owns a meaningful equity stake in the business.
“Our firm is on a rapid growth trajectory and we continue to invest in our people, our products and technology, and geographic footprint to remain an industry leader,” said Stephen Castree, Equinoxe’s Founder and CEO. “We are delighted to partner with Estancia. The principals share our vision and fully support our commitment to further enhancing the client experience and continuing our growth plan through reinvestment. We also believe Estancia can provide advice regarding strategic acquisition opportunities as our industry continues to experience consolidation.”
Stuart Drake, Chairman of Equinoxe, commented that “the administration industry has a few very large players, catering to the largest funds, that have departmentalized client servicing and have lost their local touch. Equinoxe will continue to build its business and brand with our high-touch, swift response model. Estancia is the right partner for us because they understand our business and what it takes to be differentiated and successful.”
Barrington Partners of Boston assisted Estancia in the due diligence process.
Equinoxe is a premium boutique service provider founded in 2007 by experienced hedge fund administration professionals. Headquartered in Bermuda, Equinoxe’s global reach includes additional offices in Dublin, Sligo, Atlanta, Malta and Mauritius. Equinoxe is a full-service alternative fund administration firm with over $12.5 billion of assets under administration (“AUA”) from over 150 alternative investment funds. As reported by the Q4 2012 eVestment Hedge Fund Administrator Survey, Equinoxe was the second fastest growing hedge fund administrator with AUA up 38% for the trailing six month period ended 12/31/2012.
Estancia is a private equity firm focused on small to lower middle market investments in Institutional Quality asset management, wealth management and related business services firms. The Principals – Messrs. Mendez, Moriuchi, Kang and Kurttila – have a history of partnering with management and investment teams in providing equity, growth and working capital to facilitate strategic and opportunistic development of portfolio companies including management buy-outs from larger financial firms, private ownership/succession transitions, growth initiatives and investment team lift-outs. Estancia is currently investing its first institutional fund, Estancia Capital Partners, L.P., on behalf of a diversified base of over 30 Limited Partners.
Takashi Moriuchi, Partner
Danny Kang, Partner
|PVH Corp. Announces Minority Investment in Karl Lagerfeld (2014/4/8)|
|Algoma Central Corporation announces that the Algoma Equinox has begun her voyage to Canada (2013/10/1)|
|XL Group Announces Acquisition of Global Ag Insurance Services (2014/2/26)|
|XL Group Announces Kidnap, Ransom & Extortion Insurance in US and New Crisis Management Advisory Services (2014/4/7)|
|Beats Electronics to Receive Minority Investment from The Carlyle Group ()|
|Fidus Investment Corporation Announces Portfolio Investment Exit ()|
|Graña y Montero announces new investment in Chile through the acquisition of DSD Construcciones y Montajes (2013/8/13)|
|RBC Global Asset Management Inc. Announces Private Investment Pool Name Changes to Enhance Transparency for Investors ()|
|Blackstone Announces Strategic Investment in ThoughtFocus Technologies (2013/9/30)|
|KCP&L Announces Significant Investments in Its Sustainability Strategy ()|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.