SANNE, the global provider of alternative asset and corporate business services, has agreed on terms to acquire the fund platform Inbhear.
Inbhear is a specialist fund administration service provider that operates in Dublin and the Cayman Islands.
Currently, SANNE already has a Dublin business with around 50 people, who service debt, real asset and corporate structures from the Dublin office.
A spokesperson for SANNE noted that the new acquisition will be complementary to its existing operation in the jurisdiction.
Meanwhile, Inbhear’s Cayman Islands operations will provide SANNE with an important new international finance centre from which to provide services to clients.
The acquisition is expected to be completed by the end of Q1 this year and is subject to regulatory approval.
Elsewhere, SANNE has also announced the appointment of Jefferies International and J.P. Morgan Cazenove as joint corporate brokers.
Additionally, SANNE’s board expects to report underlying earnings per share for the year to 31 December 2019 in line with its revised expectations, following the July 2019 trading update, and remains confident in the future prospects for the group.
