The deal comes as no surprise: IQ-EQ, which already operates in 25 countries, has announced the acquisition of Zenith Global, an Italian provider. The deal, which has been approved by the Foreign Direct Investment (FDI) Authority and the Bank of Italy, gives the group a direct foothold in the Italian market.
Zenith Global offers a comprehensive range of services, from the administration of special purpose vehicles (SPVs) to the servicing of master, primary, special and back-up portfolios, as well as regulatory and structuring services. IQ-EQ is therefore seeking to consolidate its European offering across this range of services.
Italy is becoming an increasingly strategic market.
For John Legrand, deputy group CEO of IQ-EQ and regional CEO for Emea, the deal represents a major milestone for IQ-EQ and its Emea business, and “Italy is becoming an increasingly strategic market in an environment characterised by rising investment activity, and it fills a strategic gap in our presence on the European mainland,” he emphasises. This move is both a necessity and an opportunity. The value of the transaction is not yet known.
Over the past ten years, IQ-EQ has transformed its client base: the proportion of non-Italian investors has risen from 30% in 2017 to 50% today, and the firm intends to build on this momentum. Its next target? The US and Australian markets, where investors and fund managers are showing growing interest in Italian assets.
