The long awaited sale of Guernsey head-quartered fund administrator Ipes to private equity firm Silverfleet has been announced.
Ipes was founded in 1998 by Connie Helyar and Peter Gillson, as a specialist private equity fund administration business. It has built a particular niche in servicing the needs of UK mid-market PE funds, and has grown to approximately 130 staff across 4 locations (Guernsey, Jersey, Luxembourg and the UK). It has in the region of $50 billion in fund assets under administration.
Ipes was sold to RJD Partners in 2008, and has now been on-sold to Silverfleet Capital for £50m, subject to regulatory approval, reflecting the continuing interest of private equity houses in fiduciary and administration services businesses.
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