MainstreamBPO has executed sale agreements to acquire Trinity Fund Administration in Ireland and the Cayman Islands.
Privately owned Trinity currently provides administrative, transfer agency, company register, corporate secretarial, risk and regulatory reporting and other ancillary services to over 140 funds and investment vehicles incorporated in a variety of jurisdictions.
The acquisition will increase MainstreamBPO’s client base and funds under administration. Trinity currently services or administers assets in the region of USD7 billion.
Trinity was founded in 1993 by CEO John McCann, and has received recognition from the international funds industry on numerous occasions including being awarded the “Best Offshore Hedge Fund Administrator” in the Hedge Week Global Awards in March 2017.
Trinity has 30 staff across its various offices, with an average of 18 years’ service by senior staff. All of Trinity’s employees will join the group with McCann to join MainstreamBPO’s executive team and become the CEO of MainstreamBPO’s European and Cayman operations.
The acquisition of Trinity expands MainstreamBPO’s global footprint in key international fund centres and allows the group to enter into key European fund product markets including the ability to service regulated UCITS and non-UCITS products.
MainstreamBPO chief executive officer Martin Smith (pictured) says: “The addition of Trinity’s group of companies to MainstreamBPO means we now have an established footprint in two more leading fund domiciles – the USD2.2 trillion Irish funds market and USD5.7 trillion Cayman fund market – to support our global cross-border client strategy.”
John McCann, CEO of Trinity, says: “We are very pleased to become part of the MainstreamBPO group whose cultural fit is strongly aligned to our own. This is a very exciting milestone for Trinity as the combined group will provide numerous opportunities for business expansion and our staff while allowing us to continue to focus on delivering outstanding committed service and putting the client first. We thank all of Trinity’s staff for their hard work and dedication over the years and look forward to exploring the increased global possibilities that this deal represents for staff and clients alike.”
The acquisition is expected to be completed around July 2017, subject to regulatory approval within the relevant jurisdictions.
