Permira backs global growth ambitions of Alter Domus
Alter Domus, a leading provider of Fund and Corporate Services dedicated to international private equity & infrastructure houses, real estate firms, private debt managers, multinationals, capital markets issuers and private clients announced that it has secured a significant investment from funds advised by global investment firm Permira to accelerate its international growth strategy.
Founded in Luxembourg in 2003, Alter Domus has continually expanded its global service offer and today counts 31 offices and desks across five continents. This international network enables clients to benefit globally from the expertise of more than 1,000 experienced professionals active in fund administration, corporate secretarial, accounting, consolidation, tax and legal compliance, depositary services and debt administration services.
Permira has a long and established track record of successfully partnering with market leading financial and professional services businesses and their management teams to help consolidate their positions as pre-eminent regional leaders. This is evident in the Permira funds’ investments in firms such as LegalZoom, the no.1 online legal services company in the US, as well as wealth manager Tilney and receivables manager GFKL Lowell, both of which are combining organic growth with buy-and-build strategies very successfully in Europe.
Commenting on the partnership, Laurent Vanderweyen CEO of the Alter Domus group, said: “We are delighted at the opportunity to work with Permira, a partnership which gives us the combined benefit of the strategic support, resources and capital of a leading global investment manager, while remaining an independent and majority management owned firm.”
“We look forward to working together with Permira to execute our ambitious plans to expand the business and to build upon our market leading position. We are convinced that their contribution to our business will help us to broaden and strengthen our capabilities to support our clients in the international locations important to them.”
Philip Muelder, co-head of Financial Services at Permira added: “We are excited to partner with CEO Laurent Vanderweyen, the Senior Management Team and its founder shareholders to help them develop Alter Domus into the leading global specialist administrator focused on alternative managers in the private equity, real estate and credit markets. Since it was founded 13 years ago, Alter Domus has grown from a strong market position in its Luxembourg home market with a reputation for excellent client service into a leading pan-European company. The company operates in markets which continue to offer attractive and sustainable long-term growth and we look forward to supporting it as it embarks on further international expansion and industry consolidation.”
The transaction is subject to satisfaction of certain regulatory closing conditions.
Permira was advised by Jefferies International (M&A), Freshfields Bruckhaus Deringer (Legal), PwC (Financial & Tax) and Bain & Company (Commercial).
Alter Domus was advised by EY (M&A), EY (VDD & Tax) and Clifford Chance (Legal).