Australia’s Equity Trustees takes majority stake in UK’s Treasury Capital
Australia’s Equity Trustees is acquiring a 60% stake in UK funds services company Treasury Capital in a move that has been described in the Australian press as “marking its first step toward global expansion”.
Treasury Capital is a provider of fund administration and regulatory services, and authorised corporate director services for undertakings for collective investments in transferrable securities (UCITS).
It is being seen as a signal of intent on behalf of EQT to tackle the UK/Ireland markets, and from there Europe, while Treasury Capital joint chief executive Kevin Lavery, was also bullish, saying: “Becoming an EQT partner business allows us to accelerate our already ambitious growth plans and moves us closer to reaching our mission of becoming the premier provider of Fund Operator services in both the UK and across Europe.”
Lavery said that the deal meant expansion thanks to support and capital backing of “one of the largest players in our space globally”.
‘First step in expansion into global market’
EQT managing director Mick O’Brien added: “EQT’s independent, specialist model is a strong fit with Treasury Capital. We look forward to working together to meet the increasing demand for professional fund governance services amongst global fund managers.
“This partnership is a first step in our plan to expand our corporate services into the global market, including the important UK and European funds management industries.
“There is a growing need for independent services as fund managers grow and seek to operate increasingly across international borders. With markets rapidly globalising, EQT is positioning itself to be the provider of choice for independent, trusted services to fund managers and distributors across the globe.”