Regulators have signed off on Vistra Group’s acquisition of Kroll Manco. The group wants to subsequently merge Kroll Manco with its Vistra Fund Management unit. Library photo: Jan Vanhoutte, managing director and conducting officer at Vistra Fund Management, seen speaking at an industry conference in 2017. Image credit: Lala La Photo

Regulators have signed off on Vistra Group’s acquisition of Kroll Manco. The group wants to subsequently merge Kroll Manco with its Vistra Fund Management unit. Library photo: Jan Vanhoutte, managing director and conducting officer at Vistra Fund Management, seen speaking at an industry conference in 2017. Image credit: Lala La Photo

Vistra Group’s takeover of Kroll Manco has cleared a major hurdle.

The fund and corporate services group Vistra said it has received regulatory approval to proceed with its acquisition of Kroll (Luxembourg) Management Company, .

“Operating in Luxembourg and London, Kroll Manco will fully separate from its parent company by August this year and will operate as a separate entity within the Vistra Luxembourg family of companies, whilst subsequent regulatory permission is sought for a merger with Vistra Fund Management (VFM),” Vistra in a press release on 2 May 2024.

, managing director and conducting officer at Vistra Fund Management, and Anil Singh, managing director at Kroll Manco “will lead the expanded business, working closely together to complete the integration and merger of the two businesses,” the company said.

The value of the transaction was not disclosed.

Kroll (Luxembourg) Management Company is a so-called “super manco” meaning it can provide management and operational services to both alternative and Ucits investment funds. It posted net turnover of €5.4m in 2022 and €7.5m in 2021, the latest years for which financial filings are available. It had 15 staff in 2022 and 19 in 2021.

Vistra Fund Management has focused on serving private market funds. It posted gross profit of €7.7m in 2022 and €4.6m in 2021. It had 23 employees in 2022 and 14 in 2021.

The Vistra group employs some 261 staff in Luxembourg, according to its website. After the merger is complete, Vistra said it would employ “9,000 experts in more than 50 markets” worldwide.

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