Investor services group IQ-EQ has announced the acquisition of Blue River Partners, a US provider of outsourced solutions to alternative asset managers.
According to IQ-EQ, the transaction will significantly add to its presence in the US private equity and hedge fund services market, with a combined new team of 200.
Founded in 2009, Blue River pioneered back-office outsourcing for alternative asset managers and now services more than 400 clients from its seven US offices – Dallas (HQ), Fort Worth, Houston, Austin, New York, Chicago and San Francisco.
The firm provides fund administration to private equity funds; fund operations, middle office and outsourced CFO services to hedge funds; management company operations services; as well as regulatory compliance solutions across all advisory structures.
In addition, Blue River offers tax compliance and advisory services, IT and cybersecurity consulting and managed services, as well as operations, tax and IT services to portfolio companies and assets owned by private equity funds.
Blue River's founding partners, CEO Mark Fordyce and President Michael Minces, will now lead IQ-EQ’s US operations.
Group Executive Chairman Serge Krancenblum (pictured) commented: “The acquisition strategically increases our presence in the US, the largest and fastest growing fund administration and regulatory compliance market in the world.
"Under the leadership of Mark Fordyce and Michael Minces, we will be in a strong position to capitalise on market opportunities in the US.”