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Guernsey’s Praxis acquires Investec Administration Services

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Praxis Fund Services in Guernsey has announced it has signed an initial agreement to purchase Investec Administration Services.

Praxis Fund Services in Guernsey has announced it has signed an initial agreement to purchase Investec Administration Services. The completion of formal legal documents is expected to be finalised by the end of January.

Praxis Fund Services is a specialist administration services business for institutional funds with diverse investment profiles including property, private equity and hedge funds as well as funds of hedge funds.

‘I am excited by the new acquisition which demonstrates the continuing growth and commitment of Praxis to its international fund administration business,’ says Praxis managing director Chris Gambrell (pictured).

‘Like Praxis, Investec Administration Services has its roots in professional fund administration services and there is a good cultural fit between the companies with a strong focus on entrepreneurialism, energy and enthusiasm. We share an emphasis on first-rate, professionally qualified people demonstrating expertise and commitment focussing on our core funds markets.’

Investec Administration Services staff will remain in NatWest House until the completion of the sale, when they will move to Praxis’s offices in Le Truchot, a move expected around late February.

‘We are in great hands in Praxis,’ says Investec Administration Services head of fund operations Chris Hickling. ‘The sale offers staff and clients new opportunities and natural synergies which can only result in growth and a bright future. We are looking forward to working with the Praxis team throughout their network of fund administration offices in Guernsey, Malta and shortly in Luxembourg.’

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