Investor services provider IQ-EQ has acquired Irish fund management business Davy Global Fund Management (DGFM) after being granted regulatory approval by the Central Bank of Ireland.
DGFM will operate as IQ-EQ Fund Management (Ireland) fund management company to help global asset managers establish and operate UCITS and alternative investment fund (AIF) structures in Europe.
The newly combined business will offer fund management and portfolio management services, fund administration and corporate administration services from DGFM’s offices in Dublin and Shannon.
Leading the business will be former DGFM CEO, Tom Berrigan, who will take up the role of managing director of IQ-EQ’s newly enlarged Ireland business.
Also joining IQ-EQ’s management team in Ireland will be Paul Giblin, who will be appointed as managing director of the fund management business in Ireland, and Paul O’Shea who takes on the role of chief operating officer.
Joanne McEnteggart will take on the role of managing director, fund administration and head of corporate services, UK and Ireland.
Commenting on the acquisition, Berrigan says: “We are delighted to officially become part of IQ-EQ. Since first announcing the news in July 2021, the reaction from our clients and employees has been overwhelmingly positive.
“We believe the fully integrated service offering from IQ-EQ, ranging from fund administration to corporate services, combined with our expertise in the provision of AIFM and UCITS oversight and portfolio management services, presents a compelling proposition for asset managers looking to establish fund structures in Ireland.”
John Legrand, regional CEO of UK, Ireland and Crown Dependencies at IQ-EQ, says: “We are delighted to welcome the DGFM team into the business and look forward to building a really successful business where we can grow together as one IQ-EQ team.”
