Luxembourg-based Allegro, operating since 2008, has roughly €8.7bn in assets under management, primarily in private equity and real estate funds, per Ocorian. Allegro is also authorised to service Ucits funds.
“Allegro’s clients are large-scale institutional investors, international fund promoters and investment managers who will benefit from institutional backing and a broader service offering in funds and corporate services globally.
“This strategically important acquisition adds depth and breadth to our funds business, enhancing our current fund administration and associated services across all investment structures and specialisms such as green energy, listed and private funds.”
Thomas Fahl, CEO of Allegro, stated:
“It will be business as usual for both Allegro’s employees and clients.”
Ocorian, headquartered in Jersey, has been operating in Luxembourg since 2016.
“Ocorian manages over 17,000 structures on behalf of 8,000 clients including financial institutions, large-scale international organisations and high-net-worth individuals. With assets under administration of US$260bn, it employs 1,250 professionals across 20 offices in the world’s major financial hubs.”
The value of the transaction was not disclosed.
Ocorian and Allegro made the announcement on 20 April.