Waystone, the leading institutional provider of services to the asset management industry, is pleased to announce that, subject to regulatory approval, the Centaur Group (“Centaur”), an established global fund administration and fiduciary services provider headquartered in Ireland, will become part of Waystone. The transaction will significantly broaden Waystone’s service offering to asset managers and their investors.
The transaction represents the first time a leading third-party management company (“ManCo”) has moved to integrate a fund administrator to complement its service offering versus the established route of fund administrators adding management company services.
It also sees Waystone double down on its home base of Ireland, where alongside the recently announced transaction with KB Associates, it will finish the year at close to 500 Irish based employees. With the Centaur combination, Waystone will also increase its North American presence.
Ronan Daly, Founding Partner at Centaur comments, “As we look at the next phase of our growth, joining together with Waystone is the logical option, being an Irish headquartered global financial services firm, client centric and with an institutional fund manager book. The Centaur team is delighted to be joining Waystone on their growth trajectory and look forward to being able to provide fund administration services to Waystone clients, whilst still providing our existing clients with the same quality and focus as they have come to expect from us.”
The Centaur team is delighted to be joining Waystone on their growth trajectory and look forward to being able to provide fund administration services to Waystone clients.
Derek Delaney, Global CEO of Waystone comments, “For Waystone, this deal represents a major achievement, as with Centaur we are gaining a highly-experienced senior management team with similar culture and values and we will also gain additional global locations including New Jersey, Bermuda, and Canada. We are quietly proud that, as with KB Associates, Centaur has chosen to join the emergence of the only truly international Irish financial services firm.”
For Waystone, this deal represents a major achievement, as with Centaur we are gaining a highly-experienced senior management team with similar culture and values.