Specialist fund administrator IQ-EQ has acquired US-based alternatives investor services provider Blue River Partners.
The acquisition will let Blue River Partners offer their US clients “free and immediate access” to European investment opportunities for the first time, IQEQ says, and also strengthen IQEQ’s US foothold.
According to the acquirer, increased globalisation within the alternative assets industry has led to a need for administrators to have better global capabilities.
Blue River has $1.3 trillion (€1.2 trillion) in client assets under management.
Founded in 2009, the US firm pioneered back-office outsourcing for alternative asset managers, according to IQ-EQ. Following the deal, the combined IQ-EQ US operation will total 200 people.
Mark Fordyce, chief executive and founding partner of Blue River, said that an affinity between both firms became apparent during meetings with IQ-EQ’s management team.
“This acquisition is incredibly strategic as it will allow Blue River to provide global capabilities and solutions to our clients and give us a greater ability to scale with our clients as they grow and expand their businesses,” he said.
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