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Professional Partners Administration Limited confirmed that it has reached an agreement to sell its major ACD operation, Fund Partners, to the independent Luxembourg-based fund management company FundRock Management Company S.A. (formerly known as RBS (Luxembourg) S.A.). Subject to regulatory approval and final contract details, the two parties hope the agreement will be signed and sealed ‘within the next two to three months’.
Professional Partners chairman, Paul Wilcox, said: “We acquired Fund Partners from IFDS a few years ago, where it operated more or less as a service company for fund managers using their administration services.” “We have worked hard on turning it into the UK’s leading independent ACD firm and, in many ways, following our success, it has outgrown...
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