Sovereign backs the MBO of regulatory and cross-border fund distribution services provider ACOLIN
Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to announce the management buy-out of ACOLIN, a leading provider of regulatory and cross-border fund distribution services.
Sovereign has partnered with ACOLIN’s management team to further develop its client base and service offering through a strategy of organic and acquisitive growth.
Established in 2006, ACOLIN helps asset management businesses to access new markets, meet regulatory obligations and grow AuM across multiple jurisdictions. The business represents investment funds across European markets, ensuring that all regulatory obligations are rigorously fulfilled and that fund documents are available to investors and to the relevant authorities. The business currently provides services to over 600 asset managers – c.14% of those active in Europe – representing some 1800 investment funds across 30 countries.
In addition, ACOLIN’s proprietary network facilitates clients’ access to a wide array of fund distribution channels across Europe, overseeing data and commission management for over €20bn of Assets under Management together with ongoing monitoring and due diligence of distribution partners.
The business operates throughout Europe from nine locations including Zurich, Geneva, London, Frankfurt and Belgrade, employing around 85 staff.
Sovereign is backing a highly experienced management team led by founder CEO Daniel Haefele, a proven entrepreneur within the asset management industry. Sovereign has enhanced the team further with the appointment of Mike Covell as Non-Executive Chairman, previously a Managing Director at Goldman Sachs and Chairman of Tilney.
Alex Hay, Partner, Sovereign said: “We are delighted to be backing Daniel and his first-class management team as the business looks to its next stage of growth. We believe that through strategic Buy & Build, ACOLIN is well positioned to further develop its offering and geographic reach in this fragmented market.”
Daniel Haefele, founder and CEO, ACOLIN commented: “Our management team is thrilled about the new partnership with Sovereign. I am personally very satisfied to have found the right partner who shares our conviction in the success of ACOLIN’s business model. Since I established the business fourteen years ago, the cross-border fund distribution regulatory landscape has become increasingly complex and has continued to evolve. With Sovereign’s investment and support, we look forward to further enhancing our offering and providing asset managers with the services they need.”