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Henderson and Calveley complete Butterfield Fulcrum acquisition

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Fund industry executives Glenn Henderson (pictured) and Tim Calveley have completed the acquisition of fund administrator, Butterfield Fulcrum, in partnership with BV Investment Partners, a leading middle market private equity firm, following regulatory and government approvals. The acquisition includes FORS Limited, an independent provider of family office and wealth management reporting and administrative services.

 

With the combination of Butterfield Fulcrum and FORS, the company will offer comprehensive outsourcing solutions across the alternative investment management, family office and trust industries. The two companies will continue to be run as separate businesses by their respective management. 

Henderson will take on the role of CEO of Butterfield Fulcrum while Tim Calveley will become COO of the parent company and continue as CEO of FORS. Sean Foley has been appointed CFO of Butterfield Fulcrum, effective immediately, while Chris Mulhern will continue in his role as COO & President.

“We are delighted to announce the closing of this acquisition,” says Henderson. “This brings together two highly complementary businesses that are focused on client delivery, quality products and services, and a high level of industry expertise and experience that resides in a talented team of senior level executives and staff.”

Mulhern says: “The return of Glenn Henderson and Tim Calveley to lead Butterfield Fulcrum is welcomed by current management and clients. Butterfield Fulcrum is now positioned to provide a full service offering with front, middle and back office capabilities backed by a powerful technology platform to its clients.”

Henderson and Calveley both have significant ownership stakes in the new company, along with BV Investment Partners. Financial terms of the transaction have not been disclosed.
 

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