Suntera acquires Carey

Suntera Global has acquired Carey Commercial, a boutique provider of fund, corporate and private wealth services in Guernsey, in a bid to expand Suntera’s services offering on the Channel Island.

Carey offers fund administration, directorship, listing, investor, company secretarial and corporate governance, risk and compliance, and international reporting services.

The company has 80 staff and works with fund managers, institutions, UHNWs and family offices.

“The addition of Carey – a high-quality business with an impressive, closely aligned team and a strong track record across all three divisions – to our strategically important and fast-growing Guernsey business is a great milestone,” commented David Hudson, group CEO at Suntera. “This acquisition forms part of our ongoing strategy of continuously developing our offering and capability to further enhance the services offered to our clients in each of our tier-one jurisdictions.”

Jim Gilligan, managing director at Carey, added: “We are excited to be joining Suntera Global and the opportunity to continue our growth journey by being part of a successful global business that provides a wider range of services and jurisdictions to our clients. The culture of Suntera has been evident through our discussions and it was key for Carey to be part of a group with an aligned culture. Suntera is fully committed to high environmental, social and governance (ESG) standards, as are we, as well as adhering to the same ethics and responsible practices, which are the cornerstone of Carey.”

The Drawdown recently took a deep dive into the fund administration market and a comparative look at its players.