Opalesque Industry Update - IQ-EQ has announced it has acquired Davy Global Fund Management, one of Ireland's largest domestic financial services businesses. This is IQ-EQ's third acquisition this year, following on its April acquisition of US-based Concord Trust Company and January acquisition of Constellation Advisers. The company has been making a major push in the US with its acquisition strategy over the last few years, including its June 2020 acquisition of Blue River Partners, which added US private equity and hedge fund services to IQ-EQ's servicing portfolio. The acquisition of Davy Global Fund Management (DGFM) will enhance IQ-EQ's global investor services scope, and will add 110 employees to IQ-EQ, including staff in Chicago. DGFM will fully rebrand to IQ-EQ once the transaction is approved. The acquisition gives IQ-EQ increased visibility and access in both the real estate and private equity spaces across Ireland and Luxembourg and represents significant revenue synergy potential, particularly through cross-selling Irish AIFM and portfolio management services to IQ-EQ's existing ~1,000 U.S. funds clients. |
Industry Updates
IQ-EQ acquires Davy Global Fund Management
Friday, July 23, 2021
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