Ocorian has acquired Newgate Compliance, a London-based compliance consultancy and hosted regulatory solutions provider for funds clients, subject to regulatory approval.
The acquisition is set to strengthen Ocorian’s service offering to asset managers that operate in the regulated UK market.
Following the acquisition, it will provide end-to-end administration services and a suite of compliance and regulatory services.
As part of the deal terms, founders Martin Herriot and Aron Brown will continue to lead the Newgate Compliance business.
Herriot and Brown said the acquisition is “tremendously exciting for our clients and colleagues”.
They explained that clients will benefit from Ocorian’s suite of services globally and Newgate Compliance employees will be able to take advantage of the broader opportunities that come with being part of a large, multinational enterprise.
“We are looking forward to being part of Ocorian and to building on the success we have achieved to date”, they added.
Farah Ballands, CEO at Ocorian said: “Our strategy of acquiring the highest quality, independent businesses in key markets has been very successful and continues with the acquisition of Newgate Compliance. Ocorian and Newgate share a single-minded focus on providing outstanding client service whilst building long term client relationships.”
“It will be business as usual for Newgate’s employees and clients. We are looking forward to working with the founders, Martin Herriot and Aron Brown, as well as the whole team at Newgate to expand our funds offering in the UK.”
Elsewhere, Ocorian recently spoke to AST about the Professional Investor Fund, a new fund proposal for the UK funds industry.
