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Ian Hamilton, IDS Founder and CEO, said: “IDS has successfully built its fund administration business over the past fifteen years. We are delighted to be joining Sanne who are recognised within the international fund and corporate administration sector as delivering a very high level of client service. This approach fits with IDS’s own service ethos and we are confident that we can continue to develop the breadth and quality of our service offering to meet the evolving needs of the funds sector in South Africa.”.

Commenting, Dean Godwin, Chief Executive said: “The acquisition of IDS is consistent with Sanne’s strategy of expanding the Group’s capabilities and product offering, and delivering greater jurisdictional diversification. IDS’s track record as a leading provider of hedge fund administration services complements Sanne’s existing alternative asset specialisms in private equity, real estate and debt. I am pleased to welcome the management team and look forward to working with them as IDS delivers the next stage of its growth and development as part of the wider group.”

The transaction is due to complete within three months.

With over a decade in business and being privately owned, IDS Fund Services offers a comprehensive range of independent fund administration services to the global investment community. Specialising in hedge fund, private equity and unit trust fund administration, we provide cost effective access to a strong operational team and leading technology. IDS’s shared vision and collective experience results in a synthesis of forward-thinking professionals who are able to deliver valuable insights, along with innovative and customised solutions that greatly benefit our business partners and their investors.