Hauck & Aufhäuser, via its subsidiary Hauck & Aufhäuser Fund Services in Luxembourg, has acquired a majority stake in Crossroads Capital Management Limited (CCM).
CCM is a well-established Alternative Investment Fund Manager (AIFM) and a UCITS management company based in Dublin, Ireland, specialising in a range of services for investment managers and fund promoters in Europe.
The acquisition which is subject to the approval of the Central Bank of Ireland adds an international component to the product portfolio of the core business segment Asset Servicing. After completion of the transaction, Hauck & Aufhäuser’s assets under control will amount to approximately EUR124 billion.
“Ireland is an important hub for the launch and international distribution of investment funds. With EUR4.6 trillion Assets under Administration, Ireland is the second largest European hub after Luxembourg. For this reason, we want to take this strategic first step to Ireland, which we were able to realise through this acquisition,” says Dr Holger Sepp, Member of the Management Board of Hauck & Aufhäuser, who is among other segments responsible for the core business area Asset Servicing. “We also look forward to continuing to work on this project with Donnacha Loughrey (Managing Director) as a partner and to being able to rely on the quality and expertise of CCM’s current team in the future. CCM ideally complements our range of services.” With this acquisition, Hauck & Aufhäuser is taking a significant step towards implementing its internationalisation strategy in Europe.
“We are delighted to partner with Hauck & Aufhäuser, a niche player in Asset Serving and one of Luxembourg’s largest fund service providers. The global fund industry has undergone a very dynamic development and, with the support of Hauck & Aufhäuser, we expect considerable opportunities to expand our business. The partnership will enable us to offer a range of additional services to our existing clients while expanding and offering our fund solutions to a larger global client base,” adds Donnacha Loughrey, Managing Director of CCM.
