Atlantic Fund Services acquires Moventum
Warsaw, Poland, November 11, 2014 — Atlantic Fund Services (Atlantic), a leading independent provider of fund services, finalised the takeover of Moventum S.C.A. This Luxembourg based company provides a distribution platform for independent fund advisors and funds. The transaction has been approved by the Luxembourg Regulator.
Atlantic acquired Moventum from Global Portfolio Advisors (81.36% of the share capital) and Banque de Luxembourg (18.64%).
Moventum currently has 3.5 billion of euro assets under administration. “This acquisition will provide a powerful blend of Moventum’s experience in product distribution and IFA support, together with Atlantic’s state-of-the-art technology solutions,” comments Roman Lewszyk, the Chairman and CEO of Atlantic’s European business.
The combination of Atlantic and Moventum creates a significant global distribution network operating from a single platform. The acquisition brings together two highly regarded financial services brands under one umbrella and accelerates Atlantic's strategic initiative to expand in the European market organically and through acquisitions.
Atlantic has been operating in the Luxembourg market since 2011 and in Poland the company has an 18-year history. The U.S. operation has been providing administration services since 1986. “Until now we have been a rather modest distributor. The acquisition of Moventum will let us seriously step into the market of global distribution of funds,” highlights Roman Lewszyk.
Moventum distributes funds in 120 markets globally. The company supports 1,850 financial advisors, insurance companies, fund of funds and banks located in 19 jurisdictions. Moventum has distribution agreements with 450 fund companies for over 9,000 funds.
“With this acquisition Atlantic becomes a direct fund distributor," notes John Keffer, Chairman of Atlantic's U.S. business. "Atlantic is highly experienced in creating and developing Internet and transfer agent technologies for leading asset managers. Moventum now gains access to Atlantic's advanced technology solutions,” he continues. "We are also delighted that Moventum expands Atlantic's distribution opportunities for U.S. advisers offering products in Europe," he concluded.
The sellers were advised by Novitas Partners.
For further information please contact your direct contact at Moventum.
Moventum started its activities in 2002 in Luxembourg as a fully licensed Financial Services Company with a branch in Germany; in 2007 the company opened an office in Austria. It offers European fund distributors streamlined processes and a comprehensive range of services, including access to institutional investment funds, extensive back-office support and marketing and asset allocation tools. Approximately 1,850 investment advisors servicing more than 44,000 investors representing over 3.5 billion Euros in assets under administration.
For further information, please visit: www.moventum.lu
About Atlantic Fund Services
Atlantic Fund Services is a global third party fund administrator with $18 billion in assets under administration and operations in Luxembourg, the UK, Poland and the US. Atlantic Fund Services provides comprehensive fund administration, fund accounting, transfer agency, distribution and compliance solutions. Atlantic Fund Services supports registered and unregistered investment advisors, and advisors to pension funds, mutual funds, hedge funds, UCITS, SIFs, common and collective funds, ETFs and other pooled investment products.
For further information, please visit: www.atlanticfundservices.eu
About Global Portfolio Advisors
Global Portfolio Advisors, LTD was formed in 1998 to provide independent custody and clearing services to individuals and institutions. Since that time, the multi-lingual, multi-currency platform has serviced thousands of clients and billions of assets in over 120 jurisdictions around the globe.
For further information, please visit: www.gpa.com
About Banque de Luxembourg
Established in Luxembourg in the 1920s, Banque de Luxembourg is one of Luxembourg's largest private banks and part of Credit Mutuel/CIC group. It provides services for local and international private investors, families and business people catering to their wealth protection, wealth management and estate-planning needs. In parallel with the development of the financial centre of Luxembourg, the bank has also developed specific expertise in investment funds and a range of services and tools for third-party asset managers.
For further information, please visit: www.banquedeluxembourg.com
About Novitas Partners
Novitas Partners provides corporate finance services and strategic advice to financial services, business processing and technology companies. It is a sector specialist, built on experience in the investment banking, asset management, securities servicing and financial technology. Headquartered in London, Novitas has a presence in Luxembourg, Dublin, Milan, Singapore, Hong Kong, Cape Town and the majority of its transactions are ‘cross-border’.
For further information, please visit: www.novitaspartners.co.uk
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