Espirito Santo Financiere S.A., Luxembourg (ESFIL) has acquired a 40% stake in ADEPA Asset Management SA, an asset manager, fund administrator and UCITS III management company.
The firms say the partnership will enable ADEPA to capitalize on the increased market opportunities for fund administration and investor services and builds the presence of ESFG in Luxembourg.
ADEPA’s focus will remain the provision of a diversified range of services to institutional and professional investors worldwide, the firms say. Carlos Alberto Morales Lopez and Javier Valls Martinez, shareholders and promoters of ADEPA, will continue to lead operations at ADEPA.
“We are delighted with the arrival of ESFIL as a shareholder, says Morales Lopez, managing director of ADEPA. After more than 3 decades providing solutions to our clients, this new partnership will allow our Company to achieve the objectives established in our ambitious strategic plan for the coming 7 years which foresees a significant growth and a strong international expansion. At the same time, such a prestigious shareholder as ESFG, through ESFIL, will help us preserve our quality standards; the basis of the success achieved so far.
“Our philosophy is to invest in businesses with a sound structure and important growth potential, says Bernard Basecqz, chairman of ESFIL and director of ESFG. Moreover in ADEPA we found a highly qualified and entrepreneurial team, ready to assume new ventures. We are convinced that the Group will benefit from this new relationship and from this foundation we will be launching new projects across the European Union. The Espirito Santo Group has been in Luxembourg since 1975, the participation in ADEPA is a new and clear commitment towards this country and its financial center.