PE-backed Ocorian buys PE-backed Estera

Deal epitomises M&A trends in fund services space
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Inflexion’s Ocorian has acquired Estera from Bridgepoint, forming a largescale fund administrator.

The newly combined entity will operate from 18 global jurisdictions, employ more than 1,250 people and serve 8,000 clients.

The deal appears to be motivated by expanding Ocorian’s geographical reach – the purchase of Estera sees it move into key US jurisdictions, namely Bermuda, BVI and Cayman.

Previously, Estera counted 550 global professionals across 11 jurisdictions, and 6,000 clients. While Ocorian employed 700 people throughout Europe, the Middle East and Africa, serving 2,000 clients.

Simon Turner, managing partner of Inflexion, commented in a statement: “Since carving out Ocorian from Bedell Cristin in September 2016, the business has successfully completed four acquisitions, significantly diversifying its client offering geographically. The combination of Ocorian and Estera is truly transformational, creating a global, market leading business of significant scale and we look forward to partnering with both teams to accelerate the growth of the joint business.”

Established in 1971, and acquired by Inflexion in 2016, Ocorian provides fiduciary and administration services to corporate, institutional and private investors.