SGG Group, a fund administrator, has acquired a Jersey-based fund services group to deepen its coverage of specialist client segments and geographies.
SGG says the acquisition of First Names Group will make the combined business a “significant force” in services for ultra-wealthy clients, and corporate and fund groups.
First Names has been acquired from AnaCap Financial Partners – a private equity firm that specialises in the financial services sector - for an undisclosed sum.
The combined entity has over 1,500 staff and covers 23 jurisdictions. SGG said Jersey, Guernsey, the Isle of Man, Switzerland and Cyprus were among its key markets.
Serge Krancenblum, SGG’s chief executive, described the acquisition as a milestone for the group.
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