Suntera Global has announced the acquisition of UK-based depositary services business Marick Capital Limited.
Marick Capital, the wholly owned subsidiary of Marick Real Estate, serves a range of UK real estate and venture capital clients, holds Financial Conduct Authority (FCA) permissions to act as an operator, sub-threshold alternative investment fund manager (AIFM) and depositary of unauthorised alternative investment funds (AIFs), providing a robust regulatory platform for Suntera to expand its UK-regulated service offering. The acquisition provides an immediate footprint for Suntera in the UK real estate space, as well as further enhancing its venture capital capability.
Commenting on the acquisition, David Hudson (pictured), CEO of Suntera, said: “This acquisition marks another key step in our ambitious growth strategy, bolstering our positioning as an expert provider adept at serving a broad range of alternative fund structures and manager needs in the strategically important UK market through our growing London footprint.
“In particular, Marick Capital’s high-quality client base in the real estate and venture capital sectors and its sophisticated operating model will be key as we look to build on our acquisition of Khepri this year and establish a fully integrated fund service proposition in the UK.”
Patrick Going, Managing Director at Marick Real Estate, added: “Our subsidiary Marick Capital has grown to establish itself as a key partner to asset managers in the UK real estate and venture capital space, providing a range of specialist operator, AIFM and depositary services. The sale to Suntera allows the business to grow beyond our boundaries and allows Marick Real Estate to focus on our core business of development.”
Will Roxburgh, Managing Partner of Suntera’s UK office (formerly ‘Khepri’), commented: “Joining forces with Marick Capital is perfectly aligned with our overall UK strategy to offer a full suite of AR, AIFM, Administration and Depositary services to UK fund managers. We have been working with Marick Capital for a number of years and have a high regard for the team, their client base and the quality of their work. We are extremely excited to bring Marick Capital into the family here and continue to broaden our product offering, our client base and our overall growth trajectory.”
