FundRock expands with Dublin base opening
Luxembourg-based alternative investment specialists FundRock Management Company has announced the opening of a new office in Dublin, as it bids to capitalise on funds flowing out of the UK and into EU centres following Brexit.
The new office, which adds to its headquarters in Luxembourg and the UK, is part of FundRock’s plan to increase presence in some of Europe’s main fund centres, particularly given the opportunities in a post Brexit investment world, the company said in statement announcing the move.
FundRock is moving now due to “the market uncertainty created in the investment management sector post-Brexit”, as it bids to capitalise on “the significant rise in UK-based deal flows”, with more and more investments flowing across the Irish Sea towards Dublin and away from London.
The Dublin office will be headed up by Ross Thomson, who has nearly twenty years of fund industry experience in Luxembourg and Canada. FundRock has also made two initial hires from the Dublin market in order to strengthen their local presence and knowledge, the company said.
Revel Wood, CEO of FundRock, said: “The move to Ireland is a crucial part of our long term strategy. We have responded to client demand, to accommodate their needs, especially those looking to move their funds to Ireland.”
Fund Partners purchase
The company’s move into Ireland follows FundRock’s recently announced agreement to purchase hedge fund company Fund Partners Ltd, subject to regulatory approval.
Ross Thomson, who has been FundRock’s director of operations oversight for four years in Luxembourg, and has a wealth of experience in the hedge fund business, called the opening of an Irish branch an “exciting move”, not least with “the opportunities that Brexit could provide,” he said.
FundRock has been in the fund management and governance industry for more than 80 years, and has been servicing funds in Ireland since 2012 and operating in Luxembourg for more than 13 years.