MainstreamBPO, an Australian listed company that provides global fund administration services in six countries, looks set to acquire Trinity Fund Administration in Ireland and the Cayman Islands.
Privately-owned Trinity provides administrative, transfer agency, company register, corporate secretarial, risk and regulatory reporting and other ancillary services to more than 140 funds and investment vehicles in a variety of jurisdictions.
Trinity, which was founded in 1993 by CEO John McCann, services or administers assets in the region of $7 billion.
Trinity’s 30 staff will join the group. McCann will join MainstreamBPO’s executive team and become the CEO of MainstreamBPO’s European and Cayman operations.
The acquisition of Trinity expands MainstreamBPO’s global footprint and allows the group to enter into key European fund product markets including the ability to service regulated UCITS (Undertakings for Collective Investment in Transferable Securities) and non-UCITS products.
Martin Smith, CEO of MainstreamBPO, said: “The addition of Trinity’s group of companies to MainstreamBPO means we now have an established footprint in two more leading fund domiciles – the $2.2 trillion Irish funds market and $5.7 trillion Cayman fund market – to support our global cross-border client strategy.”
John McCann, CEO of Trinity, added: “We are very pleased to become part of the MainstreamBPO group whose cultural fit is strongly aligned to our own. This is a very exciting milestone for Trinity as the combined group will provide numerous opportunities for business expansion and our staff while allowing us to continue to focus on delivering outstanding committed service and putting the client first. We thank all of Trinity’s staff for their hard work and dedication over the years and look forward to exploring the increased global possibilities that this deal represents for staff and clients alike.”
The Acquisition is expected to be completed around July 2017, subject to regulatory approval within the relevant jurisdictions.
MainstreamBPO, Trinity Fund Administration, Cayman Islands, Acquisition, M&A, John McCann, Europe