PRAXIS ACQUIRES INVESTEC ADMINISTRATION SERVICES LIMITED

 

Chris Gambrell
Managing Director
Praxis Fund Services Limited


 

Praxis Fund Services (PFS) in Guernsey has purchased Investec’s fund administration company, Investec Administration Services Limited (IASL), boosting the size, expertise and product range of the fund administration operation.

The company, which has been renamed Praxis Property Fund Services Limited, remains separately licensed by the Guernsey Financial Services Commission and specialises in the administration of property funds an asset class to which PFS previously had little exposure.

The Property Fund team, headed up by Chris Hickling and Janine Lewis, has over 13 years experience in sectors such as UK commercial and residential developed markets, Western European commercial, Japanese residential, emerging markets, Eastern Europe and Russia. Plus experience in listed funds on LSE, AIM, Bermuda, LuxBourse and the Channel Islands Stock Exchange (CISX). The company also acts as a sponsor for the CISX.

PFS Managing Director Chris Gambrell said: “This acquisition demonstrates the continuing growth and commitment of Praxis to its international fund administration business”.

“Like Praxis, IASL had its roots in professional fund administration services and there is a good cultural fit between the companies with a strong focus on entrepreneurialism, energy and enthusiasm. We share an emphasis on first-rate, professionally qualified people demonstrating expertise and commitment focusing on our core funds markets,” Chris said.

The integration has gone very well with IASL clients continuing to be serviced by the same personnel. Praxis can also offer them additional jurisdictional coverage for future funds and special purpose vehicles through their network of offices in Malta and Luxembourg.

The acquisition of IASL has brought the number of funds administered by Praxis to over 60 with net assets in excess of $2.4 billion. Staff numbers now stand at 32 across our offices in Guernsey, Malta and Luxembourg.

FOR MORE INFORMATION CONTACT:

Chris Hickling
Tel: +44 (0) 1481 755531           chris.hickling@pfs.gg

Janine Lewis
Tel: +44 (0) 1481 755532           janine.lewis@pfs.gg