International asset management consultancy, MJ Hudson, has acquired Bridge Group, a funds service provider based in Ireland, conditional on Irish regulatory approval. The acquisition will build on MJ Hudson’s specialist funds operations in London, Luxembourg and Guernsey and adds a strategically important geography to the MJ Hudson network.
Bridge Group is a Dublin based provider of specialist support services to the funds sector. Founded in 2005, it offers regulatory compliance, domiciliation and risk services and is authorised to provide third party management services to both UCITS and alternative investment fund platforms (AIFM and UCITS management services, commonly referred to as a “Super Manco”). Bridge Group has 27 permanent staff, servicing 100 asset managers, with more than EUR120 billion in assets.
The directors and staff of Bridge Group will remain fully active in their existing roles. All will transition to MJ Hudson and the business will trade under the MJ Hudson brand. The deal substantially increases MJ Hudson’s Outsourcing division’s revenues, staff numbers and capabilities.
Matthew Hudson, CEO, MJ Hudson, says: “The acquisition of Bridge Group in Ireland is a key milestone for MJ Hudson’s Manco and regulatory platform offering. It means we can now offer clients representation in each of the principal UK and European fund centres, as Brexit approaches. Together with our equivalent London, Luxembourg and Channel Islands offerings, MJ Hudson is now one of the largest independent (not part of a banking group) regulatory platforms for asset management clients, and especially alternatives. The acquisition also gives us an extended Manco capability and a timely UCITS platform that complements our AIFM platforms in the UK, Luxembourg and Guernsey.”
“Alongside the wider resources, offerings and expertise of the MJ Hudson Group, the network effect we provide makes for a compelling proposition to the many new clients we welcome as part of the transaction. We are delighted that the Bridge Group team has decided to join us, and we look forward to helping the business to grow.”
David Dillon, Director and co-founder, Bridge Group, says: “This is a very exciting transaction from Bridge’s perspective. We had been looking for a partner, rather than an investor, to strengthen our footprint, internationally. Joining MJ Hudson hits a number of sweet spots: it strengthens our ability to provide clients with access to a regulated management company and governance services in Ireland, the UK, Luxembourg, and Guernsey; further, the merger gives Bridge clients access to a broader range of resources and international consultancies, such as MJ Hudson’s specialist ESG Consultancy and its provider of Operational Benchmarking services. Similarly, MJ Hudson’s global clients can now access the deep Irish funds market, which has become the favoured location in Europe for US, UK, and Asian fund managers to establish their UCITS offering.”
