The Capita Group Plc has acquired Global Fund Administration Limited (GFA), a provider of fund administration services to hedge funds that operates principally from Gibraltar.
“GFA offers specialist fund administration services to 20 fund managers and 45 hedge funds with more than 1 billion of assets under administration,” said Robert Coyle, Capita’s executive director. “This acquisition, which includes the transfer of 13 GFA staff, gives Capita access to a rapidly growing marketplace and adds the offshore jurisdiction of Gibraltar to our existing fund administration services in the UK, Jersey, Guernsey and Dublin. The deal complements both Capita Financial Group and Capita Fiduciary Group’s existing business, and will also offer a platform for Capita Registrars to support companies on the proposed Gibraltar Stock Exchange.”
In a statement, the team of directors at GFA said they welcomed the deal and saw it as a combining of two complementary businesses.