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ZEDRA Agrees Caymans Business Acquisition
Within days of announcing that a US private equity firm had bought a majority stake in ZEDRA, the latter firm has made an acquisition of its own - in the the Cayman Islands.
ZEDRA, the trust,
corporate and fund services provider which is now majority-owned
by a US
private equity firm, has acquired the JP Integra Group, an
operation based in the Cayman Islands.
JP Integra is a leading corporate and trustee service, which
offers funds and administers more than $6 billion of assets. Its
particular expertise is in helping international private,
institutional and sovereign clients structure and run structures
for joint ventures, wealth management, asset protection and
collective investments.
The transaction is subject to regulatory approval and is expected
to complete in the first half of 2019.
The deal adds to ZEDRA’s capabilities along a number of fronts,
it said, pointing out that it already has an office and employees
in the Cayman Islands providing trust services.
When the acquisition is complete, JP Integra’s operations will be
rebranded and integrated into ZEDRA.
ZEDRA and JP Integra operate on PFS-Paxus as a fund platform and
both teams' knowledge of this system will speed up the
integration.
Peter Cockhill of JP Integra will be the managing director of the
combined office and the directors of both ZEDRA and JP Integra
will stay in their positions.
As exclusively reported by this news service last week, ZEDRA
said that Corsair Capital, a US-based private equity firm focused
on the financial services industry, made a majority investment in
ZEDRA. That deal is expected to complete next year.
