IQ-EQ, an Astorg portfolio company, has completed its acquisition of Constellation Advisers, an investment management services provider.
The transaction follows closely on from its successful acquisition and integration of Blue River Partners in 2020. The process of integrating Constellation Advisers into the Group's U.S. businesses will begin immediately, the company said.
Founded by Boris Onefater (CEO and co-founder) and Greg Farrington (president and co-founder), Constellation Advisers provides comprehensive customized solutions to a range of traditional and alternative investment management firms including private equity, real estate, private credit, venture capital, hedge funds and family offices.
Constellation Advisers’ sector expertise and singular focus on delivering client service excellence make them a strong and natural fit for our business and an important part of our U.S. expansion plans."
Employing 115 professionals located across its six U.S. offices - New York (HQ), Dallas, San Francisco, Los Angeles, Chicago and North Carolina - Constellation Advisers provides a high touch, customized, boutique-style service.
Following this acquisition, IQ-EQ's newly combined U.S. business totals more than 320 U.S.-based employees with scale in regulatory compliance, fund administration and outsourced services, providing the Group with significant cross-sell opportunities and a solid footprint for continued future growth in the U.S.
This acquisition confirms IQ-EQ's commitment to the U.S. market, the largest and fastest growing fund services and regulatory compliance market in the world, and takes the Group one step closer to achieving its strategic objective of becoming the leading independent investor services provider globally.
With immediate effect, Mark Fordyce, CEO of Blue River and IQ-EQ U.S. funds, will assume overall responsibility for the Group's expanded U.S. operations. Constellation Advisers co-founders, Boris Onefater and Greg Farrington, will assume the roles of Chairman, Global Head of Outsourced Services and president and head of outsourced services, Americas, respectively.
IQ-EQ will retain the Constellation Advisers brand name in the short to medium term and will move to rebrand the business to IQ-EQ as part of its longer term business strategy.
Speaking about this transaction, IQ-EQ group executive chairman, Serge Krancenblum, commented: "I'm delighted to start 2021 on such a hugely positive note and to welcome Boris, Greg and the rest of the Constellation Advisers team to IQ-EQ. This latest transaction represents another significant milestone made possible by the ongoing investment in our U.S. operations and takes us one step closer to realizing our longer term commercial ambitions in the region."
"Constellation Advisers' sector expertise and singular focus on delivering client service excellence make them a strong and natural fit for our business and an important part of our U.S. expansion plans."