Latest news with #IQEQ
Finextra
9 hours ago
- Business
- Finextra
IQ-EQ acquires Gordian Capital
IQ-EQ, an Astorg portfolio company has announced the strategic acquisition of Gordian Capital Limited ('Gordian'), Asia's first and largest institutional cross border fund platform and fund solutions provider. 0 Its client base consists of global and regional asset managers, internal and external investment teams, SWF's, DFI's, family offices and corporates, investing in private equity, real estate, venture capital, private credit, infrastructure, hedge fund, absolute return and long only strategies. Established in Cayman in 2004 and in Singapore in 2005, Gordian's 77-member team operates from offices in Singapore, Tokyo, Hong Kong, Shanghai and Melbourne and currently manage US$17bn of which 96% is derived from institutional investors. Subject to approval by the Dubai Financial Services Authority it plans further expansion into the Middle East. Having launched 115 funds over the last 20 years this acquisition adds further strength and depth to IQ-EQ's global business providing clients with a range of additional products and services delivered by a highly experienced global team. CEO and co-founder Mark Voumard will continue to lead the business and will join IQ-EQs Asia senior leadership team ensuring continuity of the day-to-day delivery of services. The business will go to market as Gordian Capital, part of IQ-EQ until Q2 2026 when the business will rebrand as IQ-EQ. In 2016, IQ-EQ was acquired by Astorg, a leading pan-European private equity firm. Since then, Astorg has supported IQ-EQ's long-term growth strategy, helping the company become a global leader in investor services. In 2022, Astorg raised a €1.3 billion continuation fund to provide additional capital for IQ-EQ's ambitious growth plans. The acquisition of Gordian Capital Limited represents a further step in IQ-EQ's global expansion strategy. Commenting on the announcement, Mark Pesco, Group Chief Executive Officer at IQ-EQ said: 'This acquisition represents a significant milestone in IQ-EQ's growth strategy, further solidifying our strong market position in the Asia Pacific region. Asia has long been a key region for IQ-EQ, and the addition of Gordian Capital, alongside our recent acquisition of AMAL Group, underscores our commitment to expanding our presence and capabilities in this dynamic market. The combined expertise and reach of our expert teams will enable us to offer unparalleled services and support, fostering growth and innovation across the region. Congratulations to everyone involved in this transaction and a big IQ-EQ welcome to Mark and the extended Gordian Capital team.' Sridhar Nagarajan, Regional Chief Executive Officer, Asia, Middle East and Africa at IQ-EQ added: 'This transaction is hugely significant for us as it transforms us into the market leader in the fund platform business in Asia Pacific. It allows us to offer our fund, corporate and family office clients globally a path to regulated market entry into Asia and over time, the Middle East, along with sophisticated fund structuring and operational capabilities. With fully licenced operations in Asia's three key financial centres, Singapore, Tokyo and Hong Kong and extensive cross border expertise, I am excited about the opportunities ahead.' Mark Voumard, co-founder and CEO of Gordian Capital and newly appointed Managing Director, Head of Fund Platforms and Solutions, Asia and Middle East at IQ-EQ further commented: 'I'm delighted to announce this game-changing deal, which we at Gordian feel is a perfect strategic fit for our business. We were attracted to IQ-EQ not just for its impressive market leadership but their firm wide focus on people and delivering best in class client service excellence sealed the deal. Becoming part of a global powerhouse of nearly 6,000-people operating across 25 jurisdictions unlocks significant opportunities for the Gordian team and for our clients who will continue to receive the same high touch personalised service and benefit from the strength and reach of a multinational group.' Gordian is fully regulated, holding a CMS issued by MAS (Singapore), is registered with the SEC (U.S.) as a RIA, registered with the NFA (U.S.) as a CTA, registered with SEBI (India) as a Category I FPI, registered with the CBI (Ireland) as an Investment Manager, approved by China's CSRC as a QFII, holder of a full DIM license issued by the FSA (Japan), holder of a Type 9 Asset Management and Type 4 Advisory license issued by the SFC (Hong Kong) and operates as an Authorised Corporate Representative under an AFSL registered with ASIC (Australia). Given its heavily regulated status, the business will operate with a high degree of independence and strict information and ethical firewalls. The transaction has received regulatory approval from the Monetary Authority of Singapore (MAS) and the Securities and Futures Commission of Hong Kong (SFC) and is expected to close shortly, subject to customary closing conditions.
Reuters
14 hours ago
- Business
- Reuters
IQ-EQ acquires Gordian Capital to become fund platform leader in Asia-Pacific
SINGAPORE, July 22 (Reuters) - IQ-EQ, a global investor services company backed by European private equity firm Astorg, said on Tuesday it is acquiring Singapore-based Gordian Capital - a deal it said would make it the leading funds platform business in Asia Pacific. Gordian manages $17 billion in assets and also has offices in Tokyo, Hong Kong, Shanghai and Melbourne. It plans to expand in the Middle East, subject to approval from Dubai. Financial details of the transaction, which has received regulatory approval and is expected to close shortly, were not disclosed. The deal "allows us to offer our fund, corporate and family office clients globally a path to regulated market entry into Asia and over time, the Middle East," Sridhar Nagarajan, who heads IQ-EQ's business in Asia, the Middle East and Africa, said in a statement. Asia is projected to contribute nearly 30% of new financial wealth globally by 2028, from 17% in 2023, according to Boston Consulting Group's Global Wealth Report 2024. The business will be rebranded under the IQ-EQ brand in the second quarter of 2026.
Bloomberg
16 hours ago
- Business
- Bloomberg
Astorg-Backed Fund Services Business IQ-EQ Buys Gordian Capital
Astorg -backed IQ-EQ has acquired Gordian Capital Ltd., a fund platform and services provider with offices in Singapore, Hong Kong, Melbourne, Shanghai and Tokyo. Gordian Capital co-founder and Chief Executive Officer Mark Voumard will continue to lead the business, which will be rebranded as IQ-EQ in the second quarter of 2026, IQ-EQ said in a statement Tuesday. Financial terms weren't disclosed.
Irish Times
4 days ago
- Business
- Irish Times
‘Secret' mobile phone provided to contact John Magnier's rival bidder for Barne Estate, court hears
Barne Estate heir Richard Thomson-Moore has been questioned in court over an alleged 'secret' phone offered to him by a third party so that he could contact, without trace, construction magnate Maurice Regan, a rival bidder to bloodstock billionaire John Magnier for the property. Mr Thomson-Moore told the court on Friday that, after an exclusivity agreement with the Magnier bid expired, he was in contact with Mr Regan on his personal phone anyway and did not understand the reason for the proffered new phone. Mr Magnier is suing Mr Thomson-Moore and Barne over the collapse of the purchase. The estate has been owned by the Thompson-Moore family for generations. Mr Magnier wants the court to enforce the deal he claims he sealed with Mr Thomson-Moore with a €15 million handshake agreement for the 751-acre estate on August 22nd, 2023, at Mr Magnier's Coolmore home. READ MORE The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been 'unequivocally' agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any deal. Mr Thomson-Moore has told the court that while a 'price' was agreed with Mr Magnier for Barne, a 'deal' was not. After agreeing on €15 million, Barne and the Magniers entered into an exclusivity agreement stipulating that Barne would not permit itself or its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier between August 31st and September 30th, 2023. The trustees who hold the estate initially decided to remain loyal to the Magnier offer and felt a higher offer from Mr Regan could be seen as 'provocative'. After the exclusivity period had ended, the trustees decided to go with Mr Regan's offer of €22.25 million. Mr Regan is not a party to the case. [ Heir of Barne Estate 'shocked' by €50,000 'luck penny' offer from John Magnier Opens in new window ] At the High Court on Friday, Mr Thomson-Moore told Caren Geoghegan SC, for the Magnier side, that he found out the third party was allegedly in regular contact with Mr Regan about the deal only after document discovery prior to the case. Ms Geoghegan said it was her client's case that the third party had been updating Mr Regan on developments in the deal and she read out certain text messages to the court. Ms Geoghegan put it to the witness that the third party had offered Mr Thomson-Moore a 'secret', ready-to-go-phone so that Mr Thomson-Moore could contact Mr Regan without being traced. Mr Thomson Moore said he did not personally receive the phone but that the third party had placed it in his kitchen. Mr Thomson-Moore said he never touched or used the phone. Text messages read out by Ms Geoghegan allegedly showed Mr Regan sending a message to the third party saying 'I think we are in with a chance' and for the third party to keep him 'updated' and to have his 'ear to the ground'. Another message allegedly from the third party to Mr Regan said that the third party had spoken to Mr Thomson-Moore about local estate agent John Stokes, who was dealing with the sale. [ Magnier's Coolmore group branded 'professional bullies' by rival in bitter Barne Estate row Opens in new window ] Ms Geoghegan partially quoted an alleged text from the third party to Mr Regan, saying that Mr Thomson-Moore had allegedly told him: ''the more I think of things the more I think Stokes is a ... derogatory, disparaging word', she said. On September 20th, 2023, she submitted that the third party texted Mr Regan to say that Mr Thomson-Moore had told him, 'everybody thinks it's done but it is far from done'. Mr Thomson-Moore did not deny saying so. Mr Thomson-Moore said that his wife, Anna, had been frustrated by the trustees of Barne not considering one of Mr Regan's offers – of €20 million – and that the family were in discussion of how to let the exclusivity agreement expire in order to 're-set' their approach to the deal now worth 'life-changing money'. Ms Geoghegan submitted that the Thomson-Moores were 'using tax matters' to stall the Magnier deal. 'You can read it that way but we were very concerned about tax,' said Mr Thomson-Moore. The case continues at the High Court before Mr Justice Max Barrett.
BreakingNews.ie
4 days ago
- Business
- BreakingNews.ie
Court hears of alleged 'secret' mobile phone to John Magnier's rival bidder for Barne Estate
Barne Estate heir Richard Thomson-Moore has been questioned in court over an alleged "secret" phone offered to him by a third party so that he could contact without trace construction magnate Maurice Regan, a rival bidder to bloodstock billionaire John Magnier for the property. Mr Thompson-Moore told the court on Friday that after an exclusivity agreement with the Magnier bid expired he was in contact with Mr Regan on his personal phone anyway and did not understand the reason for the proffered new phone. Advertisement Mr Magnier is suing Mr Thomson-Moore and Barne over the collapse of the purchase. The estate has been owned by the Thomson-Moore family for generations. Mr Magnier wants the court to enforce the deal he claims he sealed with Mr Thomson-Moore with a €15 million handshake agreement for the 751-acre estate on August 22, 2023, at Mr Magnier's Coolmore home. The Magnier side has sued the Barne Estate, Mr Thomson-Moore and three companies of IQEQ (Jersey) Ltd group, seeking to enforce the purported deal, which they say had been "unequivocally" agreed. The Barne defendants say there was never any such agreement, as they needed the consent of the trustees to finalise any deal. Advertisement Mr Thomson-Moore has told the court that while a "price" was agreed with Mr Magnier for Barne, a "deal" was not. After agreeing on €15 million, Barne and the Magniers entered into an exclusivity agreement stipulating that Barne would not permit itself or its representatives to solicit or encourage any expression of interest, inquiry or offer on the property from anyone other than Mr Magnier between August 31st to September 30th, 2023. The trustees who hold the estate initially decided to remain loyal to the Magnier offer and felt Mr Regan's higher offer could be seen as "provocative". After the exclusivity period had ended, the trustees decided to go with Mr Regan's offer of €22.25 million. Mr Regan is not a party to the case. Advertisement At the High Court today, Mr Thomson-Moore told Caren Geoghegan SC, for the Magnier side, that he only found out the third party was allegedly in regular contact with Mr Regan about the deal after document discovery prior to the case. Ms Geoghegan said it was her client's case that the third party had been updating Mr Regan on developments in the deal, and she read out certain text messages to the court this morning. Ms Geoghegan put it to the witness that the third party had offered Mr Thomson-Moore a "secret", ready-to-go phone so that Mr Thomson-Moore could contact Mr Regan without being traced. Mr Thomson-Moore said that after the exclusivity clause with Coolmore had expired, he was in contact with Mr Regan on his personal phone anyway and did not understand the reason for the proffered new phone. Advertisement Mr Thomson Moore said he did not personally receive the phone but that the third party had placed it in his kitchen. Mr Thomson-Moore said he never touched or used the phone. Text messages read out by Ms Geoghegan allegedly showed Mr Regan sending a message to the third party saying: "I think we are in with a chance" and for the third party to keep him "updated" and to have his "ear to the ground". Another message allegedly from the third party to Mr Regan said that the third party had spoken to Mr Thomson-Moore about local estate agent John Stokes, who was dealing with the sale. Ms Geoghegan partially quoted an alleged text from the third party to Mr Regan, saying that Mr Thomson-Moore had allegedly told him "'the more I think of things the more I think Stokes is' .... a derogatory, disparaging word", she said. Advertisement On September 20th, 2023, she submitted that the third party texted Mr Regan to say that Mr Thomson-Moore had told him, "everybody thinks it's done but it is far from done". Mr Thomson-Moore did not deny saying so. Mr Thomson-Moore said that his wife, Anna, had been frustrated by the trustees of Barne not considering one of Mr Regan's offers - of €20 million - and that the family were in discussion of how to let the exclusivity agreement expire in order to "re-set" their approach to the deal now worth "life-changing money". Ms Geoghegan submitted that the Thomson-Moores were "using tax matters" to stall the Magnier deal. "You can read it that way, but we were very concerned about tax," said Mr Thomson-Moore. The case continues at the High Court before Mr Justice Max Barrett.
