Ocorian, the financial services group and leading provider of fund, corporate, capital markets and private client services acquires Nordic Trustee, the leading provider of trustee and agency services for bonds and direct lending in the Nordic region, from Altor Fund IV, subject to regulatory approval.
This transaction reflects Ocorian’s strategy to further build its capital markets offering, one of its fastest growing business lines.
Since it was founded in 1993, Nordic Trustee has played a primary role in the development of the Nordic bond market, facilitating issuers access to capital, as well as monitoring and securing bondholders’ rights. Nordic Trustee has been an integral part of the Nordic bond market supporting borrowers and lenders with advice through more than 400 bond restructurings and 2,000 bondholders’ meetings. Nordic Trustee is also the largest independent loan agent in the growing Nordic private credit market and supports various stakeholders in the bond and private loan markets with digital solutions.
The company has over 3,000 running assignments in the non-bank lending sector for more than 850 issuers and borrowers from 30 countries. Furthermore, the company provides bond reference data, pricing information and indexes to institutional investors through its proprietary platforms Stamdata, Nordic Bond Pricing and eFIRDS.
With offices in Oslo, Stockholm, Copenhagen and Helsinki, Nordic Trustee is led by CEO Cato A. Holmsen and a highly experienced management team. The team will continue to run Nordic Trustee’s business and secure the company’s role as an independent and market leading bond trustee and loan agent in the Nordics.
Frederik van Tuyll, Chairman and CEO at Ocorian said “This exciting acquisition allows Ocorian’s clients to tap into the fast-growing Nordic bond and direct lending markets. The transaction also significantly expands the breadth and depth of solutions that Nordic Trustee can offer their clients and help them to be even more successful.”
“We share a single-minded focus on building long term client relationships founded on excellent client service, something which Nordic Trustee is renowned for. We are looking forward to working with the whole team at Nordic Trustee to best support our clients’ needs, now and in the future.”
CEO Cato A. Holmsen said “This is great news for everyone at Nordic Trustee and our clients. We are delighted to be partnering with Ocorian and welcome this opportunity to team up with a fast-growing global business to offer our combined client base an enhanced service.”
Ocorian is backed by Inflexion Private Equity and Flor Kassai, Partner commented “Ocorian is a dynamic, growing business with great potential and we’re delighted to support its continued development. Nordic Trustee is highly complementary to Ocorian’s existing global network and this partnership is an exciting part of its business growth.”
Pål Stampe, Partner at Altor Equity Partners added “Nordic Trustee is a world-class company, and it has been a privilege to be a part of their journey. As a part of Ocorian Nordic Trustee will have excellent opportunities for future development including expansion outside the Nordic region.”
Ocorian is a global leader in corporate and fiduciary services, fund administration and capital markets. It has US$260bn in assets under administration and employs 1,250 professionals. Supporting and protecting global investment is Ocorian’s priority; it manages over 17,000 structures on behalf of 8,000 clients including financial institutions, large-scale international organisations and high-net-worth individuals.
Ocorian provides fully compliant, tailored solutions that are individual to clients’ needs, no matter where in the world they hold financial interests, or however they are structured. The group offers a full suite of corporate, fund and private client services across a network of 16 offices spanning all the world’s financial hubs. Locations include Bermuda, BVI, Cayman, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey, Luxembourg, Mauritius, Netherlands, Singapore, UAE, the UK, and the US. To find out more about Ocorian and its services, including regulatory information, visit www.ocorian.com
Inflexion is a leading mid-market private equity firm which invests in high growth, entrepreneurial businesses with ambitious management teams and works in partnership with them to accelerate growth. Inflexion’s flexible approach allows it to back both majority and minority investments, typically investing £10m to £300m of equity in each deal.
With bespoke teams and dedicated capital, Inflexion’s funds invest across a variety of sectors from offices in London, Manchester and Amsterdam. Inflexion helps businesses achieve the next stage of growth through M&A, international expansion, digital enhancement, talent development, commercial strategy, and access to Inflexion’s global networks. It also benefits from a local presence in Bangalore, Boston, São Paulo and Shanghai dedicated to portfolio development, enabling investee companies to benefit from privileged access to these fast-growth markets.
Inflexion is one of Preqin’s most consistent Top Performing Buyout Funds, and is a regular recipient of industry accolades for its success in growing the businesses it backs.
Funds advised by Inflexion Private Equity Partners LLP have funds under management of c.£5.4bn.Read more at www.inflexion.com
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 75 companies. The investments have been made in medium sized companies in Northern Europe with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, CTEK, Eleda, OX2, RevolutionRace, Rossignol, SATS, and Trioworld. For more information, please visit www.altor.com.