13th October 2017
EQT Holdings Limited (EQT), the market-leading provider of Responsible Entity services in Australia, has announced the acquisition of a 60% shareholding in London based Treasury Capital Ltd.
Treasury Capital provides Independent Authorised Corporate Director (ACD) services in the UK and UCITS Management Company solutions in Europe, through its subsidiary business, Treasury Capital Fund Solutions (TCFS).
Under the agreement, TCFS’ senior management team of James Gardner, Kevin Lavery and Leanne Isaacs will retain the balance of the equity and will continue to manage the business on a day-to-day basis. The equity purchase has been approved by the Financial Conduct Authority and is expected to complete this month.
EQT is an ASX-listed business with A$70 billion in assets under administration. The company has a 130-year history and is widely recognised in the Australian market under the brand name Equity Trustees. EQT provides Responsible Entity services (the Australian equivalent of an ACD) for more than 100 leading Australian and international investment managers.
TCFS Co-CEO Kevin Lavery said: “becoming an EQT partner business allows us to accelerate our already ambitious growth plans and moves us closer to reaching our mission of becoming the premier provider of Fund Operator services in both the UK and across Europe.
“We will now move forward with the support and capital backing of one of the largest players in our space globally.
“EQT’s culture and desire to ensure the best outcome for its clients and funds investors perfectly complements our offering.”
EQT managing director Mick O’Brien said: “EQT’s independent, specialist model is a strong fit with TCFS. We look forward to working together to meet the increasing demand for professional fund governance services amongst global fund managers.
“This partnership is a first step in our plan to expand our corporate services into the global market, including the important UK and European funds management industries.
“There is a growing need for independent services as fund managers grow and seek to operate increasingly across international borders. With markets rapidly globalising, EQT is positioning itself to be the provider of choice for independent, trusted services to fund managers and distributors across the globe.”