Specialist fund administrator IQ-EQ has acquired Constellation Advisers, a US-based outsourced investment services provider, in a move to bolster its alternative investment services capability and expand its US presence.
The deal follows IQ-EQ’s purchase in 2020 of US-based Blue River Partners, which provides back office services to alternative asset managers.
It also increases the size of IQ-EQ’s US operations to more than 320 employees and Mark Fordyce, chief executive of Blue River, will assume overall responsibility for the IQ-EQ US funds business.
Meanwhile, Constellation Advisers co-founders, will take on roles with the new business. Boris Onefater becomes chairman and global head of outsourced services, while Greg Farrington becomes president and head of outsourced services, Americas.
“This latest transaction represents yet another significant milestone made possible by the ongoing investment in our US operations and takes us one step closer to realising our longer term commercial ambitions in the region,” said IQ-EQ group executive chairman Serge Krancenblum.
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