Waystone, a global provider of governance, compliance and regulatory support services to the asset management industry, announced on 30 September that it had finalised the purchase of BIL Manage Invest from Banque Internationale à Luxembourg (BIL) Group following regulatory non-objection from the Luxembourg Financial Sector Supervisory Commission (CSSF).

Waystone said BIL Manage Invest would be integrated into its Luxembourg operations. The entity would be renamed Waystone Fund Management before being merged into Waystone’s existing Luxembourg management company in due course, subject to all necessary regulatory approvals being received.

Waystone further added that the acquisition was set to increase assets under management in its Luxembourg management company by approximately 15% and strengthen its position across Europe. The transaction was first announced on 7 May 2025.

Sanjiv Sawhney, Waystone’s group chief executive, said the closing “marks a significant milestone in our strategic growth journey” and reinforced the firm’s presence in Luxembourg. Denis Harty, country head for continental Europe, said the acquisition of BIL Manage Invest was “a major milestone” in the group’s strategy for the region, for which Luxembourg played a pivotal role. Alain Bastin, chief executive of BIL Manage Invest, said the move opened “new opportunities for growth” for his team as they joined Waystone.