Jefferies LLC acted as exclusive financial advisor and Reed Smith LLP acted as legal advisor to Cortland. The well known private equity group Permira invested in AlterDomus in 2017, following which the firm acquired the Cortland administration business later. Our combined services offerings will provide our clients and prospects with seamless access to Alter Domus' global reach of offices and service lines for all of their U.S. Furthermore, this acquisition complements perfectly our recent acquisition of CARTA Fund Services in February 2017. Cortland has an impressive track record of growth, a strong management team, and the same focus on quality and client service which has been at the core of Alter Domus' own success over the years. market as one of our key locations in offering vertically integrated services to our international client base. Laurent Vanderweyen, CEO of the Alter Domus Group, said, "We are delighted to welcome the Cortland team to Alter Domus as a major step in our long-term strategy to develop the U.S. The transaction will enable Cortland to expand its fund administration and loan services business into Europe, while providing clients the opportunity to take advantage of Alter Domus' management company (ManCo), Alternative Investment Fund Manager (AIFM) and other offerings. Alter Domus clients include 9 of the 10 largest private equity houses, 6 of the 10 largest real estate firms and 5 of the 10 largest private debt managers in the world. This international network enables clients to benefit globally from the expertise of more than 1100 experienced professionals active in fund administration, depositary services, corporate secretarial, accounting, consolidation, tax and legal compliance and debt administration services.
With the combination of these two companies, the Cortland team and I look forward to working alongside Laurent and the Alter Domus team to create the global leader in alternative investment servicing.""įounded in Luxembourg in 2003, the Alter Domus Group has continually expanded its global service offerings and today counts 32 offices and desks across four continents.
Becoming part of the Alter Domus Group gives us the ideal platform to expand our real estate and private credit service offerings and accelerate the expansion of our market leading loan services solutions deep into Europe and Asia Pacific. Alter Domus has established itself as one of Europe's premier fund administration and corporate services companies, and the firm's service offerings and geographic footprint in Europe and Asia serve as an excellent complement to Cortland's capabilities and client base. Financial terms of the transaction were not disclosed.ĭoug Hart, CEO of Cortland, said, "This is a very compelling transaction for Cortland, its employees and its customers. The transaction is expected to close in the first quarter of 2018, subject to certain approvals and other customary closing conditions.
Alter domus cortland full#
We are delighted to continue to back Alter Domus with this milestone acquisition, as the company further expands its global footprint and diversifies its service offering.”Ĭlick below to download the full release.Cortland Capital Market Services LLC, a global investment servicing company, announced that it has entered into an agreement under which it will be acquired by Alter Domus Group, a provider of fund administration and corporate services dedicated to international private equity and infrastructure houses, real estate firms, private debt managers, multinationals, capital markets issuers and private clients. “The Permira funds’ investment in early 2017 was designed to support expansion and Alter Domus continues to match that ambition. Philip Muelder, Co-Head of Financial Services at Permira said: This acquisition also marks a further expansion in Permira’s financial services portfolio in which $3.8bn of equity has been invested over eight investments. The acquisition of Cortland represents a significant milestone for Alter Domus, building on the success of the Carta acquisition, to establish a major presence in US credit, real estate and loan services alongside the existing private equity clients served. Permira-backed Alter Domus plans to internationalise and build global scale through M&A - particularly in the US. The transaction marks the fourth deal Alter Domus has signed since the strategic investment by the Permira Funds in May 2017.
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