Luxembourg-based Alter Domus Group, a provider of fund administration and corporate services, has agreed to acquire Chicago-based Cortland Capital Market Services LLC, an investment servicing company. No financial terms were disclosed. The deal is expected to close in the first quarter of 2018. Jefferies LLC served as financial adviser to Cortland while Reed Smith LLP provided legal advice.
CHICAGO–(BUSINESS WIRE)–Cortland Capital Market Services LLC, a global investment servicing company, today announced that it has entered into an agreement under which it will be acquired by Alter Domus Group, a leading provider of fund administration and corporate services dedicated to international private equity and infrastructure houses, real estate firms, private debt managers, multinationals, capital markets issuers and private clients. The transaction is expected to close in the first quarter of 2018, subject to certain approvals and other customary closing conditions. Financial terms of the transaction were not disclosed.
Doug Hart, CEO of Cortland, said, “This is a very compelling transaction for Cortland, its employees and its customers. Alter Domus has established itself as one of Europe’s premier fund administration and corporate services companies, and the firm’s service offerings and geographic footprint in Europe and Asia serve as an excellent complement to Cortland’s capabilities and client base. Becoming part of the Alter Domus Group gives us the ideal platform to expand our real estate and private credit service offerings and accelerate the expansion of our market leading loan services solutions deep into Europe and Asia Pacific. With the combination of these two companies, the Cortland team and I look forward to working alongside Laurent and the Alter Domus team to create the global leader in alternative investment servicing.”
Founded in Luxembourg in 2003, the Alter Domus Group has continually expanded its global service offerings and today counts 32 offices and desks across four continents. This international network enables clients to benefit globally from the expertise of more than 1100 experienced professionals active in fund administration, depositary services, corporate secretarial, accounting, consolidation, tax and legal compliance and debt administration services. Alter Domus clients include 9 of the 10 largest private equity houses, 6 of the 10 largest real estate firms and 5 of the 10 largest private debt managers in the world.
The transaction will enable Cortland to expand its fund administration and loan services business into Europe, while providing clients the opportunity to take advantage of Alter Domus’ management company (ManCo), Alternative Investment Fund Manager (AIFM) and other offerings.
Laurent Vanderweyen, CEO of the Alter Domus Group, said, “We are delighted to welcome the Cortland team to Alter Domus as a major step in our long-term strategy to develop the U.S. market as one of our key locations in offering vertically integrated services to our international client base. Cortland has an impressive track record of growth, a strong management team, and the same focus on quality and client service which has been at the core of Alter Domus’ own success over the years.
Furthermore, this acquisition complements perfectly our recent acquisition of CARTA Fund Services in February 2017. Our combined services offerings will provide our clients and prospects with seamless access to Alter Domus’ global reach of offices and service lines for all of their U.S. and international needs.”
Jefferies LLC acted as exclusive financial advisor and Reed Smith LLP acted as legal advisor to Cortland.
Cortland is a leading global investment servicing firm that provides third-party and outsourced middle office services to investment managers and commercial lenders globally. Cortland administers over USD 180+ billion of assets for clients including credit, private equity, real estate, and hedge fund managers, bank and non-bank direct lenders and CLO managers. Cortland is headquartered in Chicago and serves clients worldwide through its offices in Austin, Indianapolis, London, Los Angeles, Nanjing, and New York. For information about Cortland, please visit www.cortlandglobal.com
About Alter Domus
Alter Domus is a leading provider of Fund and Corporate Services, dedicated to international private equity & infrastructure houses, real estate firms, private debt managers, multinationals, capital markets issuers and private clients. Our vertically integrated approach offers tailor-made administration solutions across the entire value chain of investment structures, from fund level down to local Special Purpose Vehicles.
Founded in Luxembourg in 2003, Alter Domus has continually expanded its global service offer and today counts 32 offices and desks across five continents. This international network enables clients to benefit globally from the expertise of more than 1,000 experienced professionals active in fund administration, corporate secretarial, accounting, consolidation, tax and legal compliance, depositary services and debt administration services.
Alter Domus has over 100bn USD under management and is proud to serve 9 of the 10 largest private equity houses, 6 of the 10 largest real estate firms and 5 of the 10 largest private debt managers in the world.
For more information, please visit: www.alterdomus.com