IQ-EQ acquires Blue River Partners to bolster US alternatives business

The acquisition expands IQ-EQ's fund administration and middle-office services to private equity managers and hedge funds.

By Jonathan Watkins

Fund administrator IQ-EQ has acquired Blue River Partners to boost its hedge and private equity services in the US.

Blue River partners is an outsourced solutions provider for alternative asset managers with over 400 clients in the US. The fund services provider has seven offices across the country, with approximately 180 team members.

The firm provides fund administration to private equity funds; fund operations, middle-office and outsourced CFO services to hedge funds and management company (ManCo) operations services.

As part of the deal Blue River’s founding partners, Mark Fordyce and Michael Minces will assume the leadership of IQ-EQ’s US operations. 

“The acquisition of Blue River marks a key milestone for us as it strategically increases our presence in the US, the largest and fastest growing fund administration and regulatory compliance market in the world, cementing our position as one of the top 4 investor services firms globally,” said IQ-EQ’s, group executive chairman, Serge Krancenblum.

“We have been impressed by Blue River’s growth and professionalism. Under the leadership of Mark Fordyce and Michael Minces we will be in an extremely strong position to capitalise on market opportunities in the US.”

IQ-EQ united SGG, First Names Group, Augentius, Iyer Practice and Viacert under one single brand in March last year.

In a statement, the fund administration group said: “This acquisition will allow Blue River Partners to offer their US clients free and immediate access into European investment opportunities for the first time, and will give IQ-EQ a stronger foothold in the US alternative investment market.”