With this investment, Orangefield increases its assets under
administration to more than $50 billion in total.
The move, which has obtained regulatory approval, will benefit
Legis' clients by providing access to a wide range of global
Changing its name to Orangefield Legis Fund Services Limited,
the Guernsey business will continue to be headed up by Managing
Director Patricia White with Legis Group's Chief Executive
Stuart Platt-Ransom's involvement and will be integrated into
the existing Orangefield fund administration division. Both will
retain a shareholding in the business, as will the rest of the
Guernsey employees and external investor Bailiwick Investments
The 50 Guernsey staff will remain the prime contacts for their
clients with additional support by Orangefield's 600 specialist
employees in 20 countries in the Americas, Europe, Asia and
Legis Fund Services focuses on all classes of alternative
investment funds, including listed, hedge, private equity, and real
estate funds, and supports clients all over the globe. As it is
located in Guernsey, an important location for fund setup
worldwide, the acquired company forms a significant geographical
gain for Orangefield. As a part of Orangefield, the Legis team will
benefit from a broader suite of products and additional
Mr Platt-Ransom said: "We are often seeing clients who
might have fund structures in the Channel Islands, Cayman and the
Far East, or whose fund structures encompass the use of SPVs in a
number of countries. It is much more efficient for them to be able
to rely upon one single service provider that can operate across
all these jurisdictions.
"In most respects it will be business as usual. Our service
will not be disrupted in any way by this welcome development and
clients will continue to deal with the Legis team members with whom
they already enjoy a close working relationship."
Orangefield Chief Executive Joep Bruins said the firm was proud
to add the ambitious, quality oriented Legis to its group.
"They share our vision for continuous growth and
development. Though they already have award-winning service, like
us they believe that getting better never stops," said Mr
Earlier this year the Legis trust and corporate services
business was acquired by The Bank of N. T. Butterfield & Son.
Legis Tax Services, which was founded in October 2012, will
continue to offer tax, compliance and advisory services.
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