LONDON & NEW YORK & VICTORIA, British Columbia – (COMMERCIAL LINE) – ZEDRA (“ZEDRA” or “the Company”), a global specialist in global expansion and business services, active wealth and fund solutions, today announced that it has reached an agreement to receive a strategic minority investment from British Columbia Investment Management Corporation (“BCI”), one of Canada’s largest institutional investors. This investment will be made in collaboration with ZEDRA’s management team, led by executive chairman Bart Deconinck and chief executive officer Ivo Hemelraad, and the company’s current majority investor, Corsair, who will remain the majority shareholder.
Founded in 2016, ZEDRA offers bespoke, high-quality solutions to clients, which include high net worth individuals, entrepreneurs and households seeking diversified active wealth solutions, as well as multinational corporations of all sizes, corporate pension schemes, wealth managers and their investors. ZEDRA’s full range of services is designed to protect the real value of customers’ assets and support companies in driving growth and expansion.
Bart Deconinck, Executive Chairman of ZEDRA, said: “We are thrilled to partner with BCI, which offers significant resources and expertise and will allow us to continue building on the significant results we have achieved with Corsair’s strong support. Together, we have built a successful, sustainable and innovative business with the expanding global footprint needed to deliver tailored solutions in the private client, corporate services and fund administration sectors. As ZEDRA enters an exciting new phase in our growth history, we look forward to improving our offerings and providing the best services to meet our customers’ ever-changing needs. ”
Corsair partner Raja Hadji-Touma said: “We are grateful for our successful partnership with the ZEDRA team and are delighted to welcome BCI as an investor by our side. This investment is a testament to ZEDRA’s continued success in executing its growth plan, demonstrated by the Company’s impressive geographic, product and team strategic expansion. We look forward to supporting ZEDRA’s continued success as a majority shareholder in this next phase of their growth. ”
Jim Pittman, BCI Executive Vice President & Global Head, Private Equity, said: “We are impressed with the strong commercial and market position built by Bart, Ivo and the ZEDRA team and are thrilled to partner with Corsair to leverage this success through organic and inorganic growth opportunities for continued expansion. The business services and fund solutions industry is a core area of concern for BCI and we look forward to generating attractive returns for our pension plan and insurance fund clients through this investment. ”
Lazard acted as financial advisor and Simpson Thacher & Bartlett acted as legal advisor to Corsair. Weil Gotshal & Manges acted as BCI’s legal advisor. Addleshaw Goddard acted as legal counsel for ZEDRA Management.
Terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.
ZEDRA is a global provider of global and business expansion services, active wealth and fund solutions. The company’s highly experienced teams offer high quality bespoke solutions to clients that include high net worth individuals and their families seeking diversified active wealth solutions as well as medium and large companies, corporate pension schemes, managers assets and their investors.
ZEDRA’s full range of services is designed to preserve and protect the real value of its clients’ assets and the company’s entrepreneurial perspective helps and supports clients to unlock their ambitions for growth and expansion, regardless of the complexity of their challenges. .
ZEDRA inherited a wealth of knowledge and experience following the acquisition of fiduciary businesses of a renowned bank in 2016. This solid foundation combined with innovative thinking has enabled ZEDRA to grow rapidly in a competitive market to a team of 680 industry experts. sector in 16 countries across Asia, Oceania, the Americas and Europe. www.zedra.com
Corsair is a global specialist investment firm that offers opportunities for investors and corporate solutions through financial and corporate services and infrastructure. The firm has nearly three decades of experience working with companies at the crossroads of technological transformation and financial services complexity and established its complementary infrastructure investment practice in 2015. Corsair invested $ 12 billion in capital in its global acquisitions and infrastructure platforms from the start. More information about Corsair can be accessed via https://corsair-capital.com/.
With CAD $ 199.6 billion in assets under management as of March 31, 2021, British Columbia Investment Management Corporation (BCI) is one of Canada’s largest institutional investors. Headquartered in Victoria, British Columbia, BCI is a long-term investor who invests in a range of asset classes: fixed income; public actions; private equity; infrastructure; renewable resources; real estate; and commercial mortgages. BCI’s clients include public sector pension plans, insurance and special purpose funds. BCI’s private equity program, with CAD 20.7 billion in assets under management, has a well-diversified portfolio of direct and fund investments. The team brings industry experience by investing in the financial and business services, healthcare, industrial, consumer and TMT sectors. For more information on BCI, visit www.bci.ca.