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FundRock Management Company S.A. (FundRock) has signed a share purchase agreement with Skandinaviska Enskilda Banken AB (SEB) for the sale of their wholly owned subsidiary, SEB Fund Services S.A. in Luxembourg. The completion of the transaction will be subject to the CSSF’s approval for the change of control.
SEB Fund Services is offering third party management company services to Nordic asset managers with Luxembourg-based investment funds. The business in its entirety, including some 20 employees, will be transferred to FundRock, subject to regulatory approval and final due diligence. The two parties intend for the agreement to be signed and sealed within the next two to three months.
“This move is part of our five year plan and provides a strong...
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