ZEDRA Group and Corsair Capital Announce Close of Transaction
ZEDRA Group (“ZEDRA”), the global specialist in Corporate, Fund and ‘Active-Wealth’ services and Corsair Capital LLC (“Corsair”), one of the leading private equity firms focused on the financial and business services industries, today announced the successful close of Corsair’s majority investment in ZEDRA Group. The transaction, which was first announced on November 28, 2018, has been approved by all relevant regulatory authorities.
Following the close of the transaction, Bart Deconinck, a highly experienced industry figure who previously has been CEO of Intertrust and was a founder of Vistra before going on to co found Zedra four years ago, has been appointed Group Executive Chairman. In addition, Ivo Hemelraad, formerly Zedra Group Director Corporate Funds & Legal, will assume the role of Group Chief Executive Officer.
ZEDRA delivers tailored high quality diversified active-wealth solutions to its clients, which include high net worth individuals and their families, as well as medium to large sized companies, asset managers and their investors. ZEDRA’s full range of services is designed to preserve and protect the real value of clients’ assets and support them in unlocking growth and expansion.
Raja Hadji-Touma and Derrick Estes, Managing Directors at Corsair Capital said, “ZEDRA is a unique firm with unparalleled capabilities, and we are pleased to have closed this exciting investment. We look forward to partnering with an ambitious management team, led by Bart Deconinck, with a proven track record of building leading companies in the sector. We believe our investment and financial services expertise, along with the unmatched global network we bring to bear, will help support continued rapid growth at ZEDRA.”
Over the last 12 months, ZEDRA has made a number of important acquisitions, creating an expanded platform with over 570 staff in a 16 office network covering 13 jurisdictions across Asia, Oceania, the Americas and Europe. As the Company continues to integrate these acquisitions, ZEDRA is even better-placed to continue creating and delivering bespoke trust, corporate and fund services solutions for clients including high-net-worth individuals and their families, international corporations, institutional investors and entrepreneurs.
Bart Deconinck, Group Executive Chairman added, “Today marks the start of the next stage of ZEDRA‘s ambitious growth plans. Powered by a combination of the resources and expertise of Corsair, together with ZEDRA’s considerable experience in the sector, we are looking forward to a period of rapid growth and expansion of the range of services we offer to our clients. The major acquisitions we have made over the past year expand our footprint across Switzerland, the Nordic countries, Cayman and offshore UK jurisdictions, bringing additional clients and staff into the ZEDRA family.”
Under its ‘Active - Wealth’ umbrella, ZEDRA provides a single point of contact for the administration of a wide range of assets for families with diversified investments, including the administration of any relevant structures they require, such as their corporate investment ventures, single-family offices, or private funds for various family members.
Ivo Hemelraad commented: “We are delighted to have completed this transaction and to begin our partnership with Corsair Capital. Their commitment and support to ZEDRA’ S growth as well as to our people are an exciting step for ZEDRA to further enhance our offering and position in the industry.”
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