Luxembourg-based financial services provider Alter Domus has acquired Investor Economic Assurance (IEA), based in Manhattan, New York. According to the press release, IEA is a leading global provider of technology solutions and services to alternative investment managers. It specialises in capital administration solutions.
For Alter Domus, which is controlled by the Permira Fund, this strategic acquisition aims to provide high-quality, vertically integrated solutions to the most demanding private equity, venture capital, real estate and credit investors.
"IEA's proprietary technology platforms will provide benefits to all Alter Domus clients and significant revenue synergy potential, enabling Alter Domus to offer IEA's technology services to the global client base," says the Cloche D'Or-based company.
It also says that the acquisition of IEA also helps strengthen Alter Domus' Manhattan office and its presence across the continent.
Alter Domus has made its presence on the American continent a strategic issue. Last January, it had already integrated Strata Fund Solutions of Salt Lake City, a leading fund administrator serving American private equity and venture capital funds.
By the end of 2020, it had also acquired IPS Fund Services LLC, a Boston-based fund administrator.
50% of Alter Domus' client base is already based in the US, the group's main growth market.