MAS International has entered into a definitive agreement for Ocorian to acquire its fund administration and corporate services businesses in Luxembourg, Mauritius and the US.
Expected to close towards the end of 2017, the transaction will realise the next stage of the progressive trajectory for Ocorian, following the management buyout and successive rebranding of Bedell Trust in 2016. The acquisition expands Ocorian's international presence and service capabilities, providing further depth for their existing jurisdictions.
All staff from MAS's administration and corporate services business will join the combined operation to support and grow the client relationships that are at the core of this acquisition. The two French entities are excluded from this transaction and will continue to operate independently.
Commenting on the acquisition Stewart Kam-Cheong, Partner at MAS International said: "Our ambition for this transaction was to find a partner that would leverage our existing platform and accelerate the development of our fund administration and corporate services businesses, whilst broadening the scope for both ourselves and our clients. Becoming part of a larger group alongside Ocorian will facilitate growth opportunities and make the most out of the MAS expertise."
Ocorian, which has existed for 45 years, is an independent global financial services business providing outsourced administration, fiduciary and accounting services.
