Suntera Strengthens Channel Islands Presence with Carey Deal
Suntera Global, a leading international provider of fund administration and corporate and trust services, has strengthened its presence in the Channel Islands with a strategic acquisition.
The acquisition of Guernsey-based Carey Commercial Limited is the seventh bolt-on deal completed by Suntera since our initial investment from our buyout fund in 2019.
Carey Commercial is an established boutique fund, corporate and private wealth services provider. Established more than 45 years ago and employing 80 people, Carey currently provides a broad range of professional, administrative and accounting services to a portfolio of fund managers, large institutions, UHNWs and Family Offices around the globe.
This transaction is subject to regulatory approval.
Carey’s Corporate and Private Wealth offering complements and enhances Suntera’s current Guernsey offering. Its fast-growing fund administration division provides a broad fund offering including full-service fund administration, directorship services, listing services, investor services, company secretarial and corporate governance, risk and compliance services and international reporting (FATCA & CRS), and adds Guernsey as a new tier one fund jurisdiction for the firm.
David Hudson, Group CEO, Suntera Global, said: “The addition of Carey, a high-quality business with an impressive, closely aligned team and a strong track record across all three divisions, to our strategically important and fast-growing Guernsey business is a great milestone.
“This acquisition forms part of our ongoing strategy of continuously developing our offering and capability to further enhance the services offered to our clients in each of our tier one jurisdictions.”
Tom Wildig, Senior Investment Director at Palatine, added: “We are pleased to support this exciting acquisition which complements the Nedgroup Trust deal, which completed 12 months ago and gave Suntera a foothold in Guernsey, a Tier One jurisdiction for the business.
“We have now supported David and the team to make eight acquisitions, adding depth, scale and international reach to Suntera’s service offering, and we remain open to further strategic opportunities in the market.”