Waystone has announced that it is set to acquire BIL Manage Invest from Banque Internationale à Luxembourg (BIL) Group, subject to regulatory approval.
Waystone writes that its acquisition of BIL Manage Invest, a Luxembourg-based Management Company (ManCo) within the BIL Group, will increase Waystone’s AUM in Luxembourg by approximately 15 per cent and significantly enhance its market position and capabilities across Continental Europe.
The firm adds that this acquisition will also support its long-term strategic objective of becoming the leading provider of third-party ManCo, alternative administration, and corporate services in Luxembourg, building on its existing rankings as the fastest growing third-party ManCo in Luxembourg and the largest third-party ManCo in Ireland and Authorised Corporate Director in the UK by AUM.
The firm writes that BIL Manage Invest has built a strong reputation for its expertise and client-centric approach in the fund industry. As a well-established ManCo in Luxembourg, it is highly regarded in Continental Europe and will bring to Waystone a wealth of expertise and a long-standing client base.
As part of this acquisition, Waystone will be welcoming 26 new colleagues to its Luxembourg team.
Sanjiv Sawhney, Group CEO at Waystone, says: “This acquisition represents a significant step forward in Waystone’s growth journey. We put clients at the heart of everything we do and by welcoming BIL Manage Invest into Waystone, we will enhance our ability to serve our clients by leveraging our combined expertise, resources and networks. This integration strengthens our presence in Luxembourg, creates exciting opportunities for our people, and further differentiates us as a leading provider of ManCo services in the region. Importantly, it enables us to deliver even greater value to our global client base by offering a broader range of capabilities worldwide.”
Denis Harty, Country Head for Continental Europe at Waystone, says: “Luxembourg continues to play a pivotal role in Waystone’s growth and the acquisition of BIL Manage Invest represents a major milestone in our strategy for Continental Europe. This move builds on the strong foundation we’ve established here and will accelerate our ability to support clients in a market that is both globally significant and rapidly evolving. BIL Manage Invest brings deep local insight and proven operational strength, which will enhance our service offering and expand opportunities for both our clients and our teams. We’re excited to welcome the BIL Manage Invest team to Waystone and to further strengthen our presence in one of the world’s leading fund centres.”
Alain Bastin, CEO at BIL Manage Invest, comments: “This marks a new chapter for BIL Manage Invest. By joining Waystone, a leading provider of fund services, we will be ideally positioned to support our clients with enhanced capabilities and global reach. We are confident that this will create long-term value for our clients, employees, and partners.”
