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Fund administrator IQ-EQ buys US-based Greyline

Fund administrator IQ-EQ buys US-based Greyline

by Yannick LAMBERT 16.11.2021 From our online archive
Fourth US acquisition for the Luxembourg-based fund administrator since last year
Cloche d'Or business district in Luxembourg where EQ-IQ has offices
Cloche d'Or business district in Luxembourg where EQ-IQ has offices
Photo credit: Lex Kleren

Luxembourg-based fund administrator IQ-EQ said on Tuesday it has bought US-based Greyline Partners, which specialises in governance and regulatory compliance for hedge funds, its fourth US acquisition since last year.

Founded in 2016, Greyline  employs 56 people across its six offices located in San Francisco, Dallas, New York, Chicago, Boston and London.  It specialises in hedge funds, venture capital, private equity and high-net worth investors. It also provides outsourced operations, finance, and back- and middle-office services, IQ-EQ said in a press release in Tuesday.

Greyline recently launched GCM Advisory, an outsourced finance and accounting business which IQ-EQ is also acquiring, the company said.

It is IQ-EQ’s fourth US acquisition over the past two years, following its acquisitions of Blue River Partners in 2020, and Constellation Advisers and Concord Trust in 2021. Concord added €1.6 billion in assets under administration for IQ-EQ.

IQ-EQ employs a global workforce of 3,700 people located in 24 countries and has assets under administration exceeding $500 billion. IQ-EQ works with 15 of the top 20 global private equity firms, the company says. It is part of the global private equity firm Astorg's portfolio with over €13 billion of assets under management with offices in London, Paris, New York, Frankfurt, Milan and Luxembourg.       

Separate Luxembourg-based fund administrator Alter Domus has also been expanding into the US with acquisitions this year. Luxembourg is the second-largest fund administration centre in the world after the US, with around €4.6 trillion under management.

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