IQ-EQ is pleased to announce the successful completion of its acquisition of Blue River Partners (“Blue River”), the U.S. based leading provider of outsourced solutions to alternative asset managers following receipt of all necessary regulatory approvals. The acquisition of Blue River marks the Group’s latest strategic acquisition, the first in the U.S. funds private equity and hedge fund services space.
The newly combined IQ-EQ U.S. operation brings together a highly experienced team of 200 funds professionals servicing more than 400 clients across the U.S from its seven office locations: Dallas, Fort Worth, Houston, Austin, New York City, Chicago and San Francisco.
The transaction significantly strengthens IQ-EQ’s existing presence in the U.S., the largest and fastest growing fund administration and regulatory compliance market in the world and further cements its position as one of the top four investor services providers globally.
The combination of IQ-EQ’s worldwide network and Blue River’s broad service offering creates an industry-leading alternative fund administration and outsourced services provider in the U.S., offering clients the benefits of an extended range of services, growth and future opportunities across all key markets.
Blue River Partners is a long established brand in the U.S. market having built up an enviable reputation over the last 10 years. As such, IQ-EQ will retain the Blue River Partners brand and continue to market its services in the U.S. as ‘Blue River Partners, part of IQ-EQ’.
With immediate effect Mark Fordyce, CEO and founding partner of Blue River Partners, will assume the role of Managing Director of IQ-EQ’s 200 strong U.S. operation and take up his position as part of the Group’s executive leadership team. Fellow Blue River founding partner, Michael Minces and IQ-EQ’s Group Chief Executive Officer, Mark Pesco and IQ-EQ’s Group Head of Funds, Justin Partington, will join him on the board of the U.S. business.
Now that the transaction has completed integration of the two businesses will begin immediately.
Speaking on the completion of the deal, IQ-EQ Group Chief Executive Officer Mark Pesco commented:
“I am delighted to welcome Mark, Mickey and the wider Blue River team to IQ-EQ and am confident that together we will make a truly formidable team. This deal marks a significant milestone for the IQ-EQ team and another important step in our long-term strategic growth plan. Blue River’s entrepreneurial approach and clear commitment to delivering client service excellence make them a natural fit and an important part of our future U.S. expansion plan.” Mark Fordyce, Managing Director, IQ-EQ U.S., added:
“We are excited to join forces with IQ-EQ and look forward to our journey ahead. With our combined capabilities, we are perfectly positioned to provide global services and added scale to our clients, within and outside of the U.S. The opportunities available to our people, our business and our clients are significant and we look forward to making a lasting and positive impact on the alternative asset industry.
IQ-EQ is a leading investor services group that brings together that rare combination of global expertise and a deep understanding of the needs of clients. We have the know-how and the know you that allows us provide a comprehensive range of compliance, administration, asset and advisory services to investment funds, global companies, family offices and private clients globally.
IQ-EQ employs a global workforce of 3,000+ people located in 23 jurisdictions and has assets under administration (AUA) exceeding US$500 billion. IQ-EQ works with eight of the top 10 global private equity firms.
Also part of the IQ-EQ group of companies are: First National Trustee Company (FNTC), Lawson Conner, Equitis, The Private Office, Peru & Partners and Blue River Partners.
To find out more about IQ-EQ visit www.iqeq.com
For further information on this announcement, please contact:
Alison Duffy, Group Head of Marketing and Communications