Guernsey-based fund services provider Orangefield Legis is to change its name to Vistra, as the parent of both it and Vistra – Baring Private Equity Asia – prepares to merge the two businesses.
The rebranding follows the acquisition of the wider, Amsterdam-based Orangefield Group by Barings late last year. Barings had acquired the Vistra Group, a former Orangefield competitor, previously.
In a statement, Orangefield Legis said the merger would “significantly increase” its reach, as it would become part of one of the top three corporate services providers globally, with 2,200 staff across 58 locations.
It added that the rebranding would not affect Orangefield Legis’s existing operations, and that its 50 staff “will remain the prime contacts for their clients”, but now with the added benefit of support from Vistra’s international network.
The Guernsey office of Orangefield Legis specialises in alternative asset classes and all types of alternative investment funds, including listed, hedge, private equity and real estate funds.
The newly-combined Vistra Fund Services (Guernsey) Ltd entity will continue to be headed up by managing director Patricia White (pictured).
Orangefield Group acquired Guernsey rival Legis Fund Services around 18 months ago.
Orangefield Group was originally founded in the 1970s, when ING Trust began offering its services in the Netherlands and the Netherlands Antilles, and then expanded to Hong Kong and, subsequently, to Mauritius. Other developments occurred as the company grew, including the 2001 acquisition of Netherlands-based Intra Beheer, founded by law firm Baker & McKenzie in 1973.
As reported, Vistra last month said it was in the process of acquiring Mumbai-based IL&FS Trust Company Ltd, which it said was India’s largest independent corporate trust services provider.
Vistra dates back to a 2006 buy-in of the fiduciary and trust business of Chiltern in London and Jersey by the former top management team of Fortis Intertrust.