Private equity firms complete Viteos Fund Services acquisition

Viteos Fund Services has been acquired by private equity fund Public Pension Capital and private equity group FiveW Capital together with Viteos management.
By Paul Walsh
Public Pension Capital (PPC) and FiveW Capital, along with Viteos management, have completed the acquisition of Viteos Fund Services.

According to a statement the acquisition “brings together a group of financial and strategic investors experienced in building and growing technology service providers.”

As part of the deal, Viteos’ management team will continue to lead the company.

Credit Suisse acted as a financial advisor to Viteos during the acquisition.

Initially founded in 2003, Viteos aims to provide straight-through processing and integrates post-trade operations for the investment management industry in the US, Europe and Asia.

“The backing of PPC and strategic investor FiveW Capital, their seasoned principals, investors and longstanding relationships, will complement our organic growth and launch us into the next chapter of Viteos’ story,” said Shankar Iyer, CEO at Viteos.

“We will have more resources to expand and develop our offerings for other investment managers.”

The move is the latest in a number of acquisitions in the fund administration sector.

Earlier this year Northern Trust entered into an agreement with UBS Group to acquire UBS Asset Management fund administration servicing units in Luxembourg and Switzerland.

“As part of our investment, we assembled a group of strategic co‐investors
including a series of principals of alternative asset managers, and alternative allocators who understand Viteos’ value proposition and track record of stellar client service,” said Randall Winn, CEO at FiveW Capital.

“This group intends to assist Viteos in sustaining its growth and bring its capabilities to more clients.”