News / 04 January 2021
Crestbridge acquires Ovation Fund Services
Crestbridge, the agile alternative for private equity and real estate administration solutions, has completed the acquisition of New Jersey based Ovation Fund Services.
Ovation is a provider of fund administration, accounting and reporting services to US domestic private equity and real estate funds. The acquisition complements Crestbridge’s core service offering in both asset classes.
The acquisition which was first announced late last year substantially expands both Crestbridge’s presence in the US, where it already has an office in New York, and its multi-jurisdiction proposition to its client base. The new office complements Crestbridge’s existing network of offices in London, Luxembourg, Bahrain, the Cayman Islands, New York and Jersey, providing access to its international team of experts for its North American institutional clients.
Commenting on the new office, Paul Perris, Chief Commercial Officer of the Crestbridge Group said: “We’re delighted to welcome Ovation into the Crestbridge Group. This acquisition demonstrates our strategic ambition to expand our focus on becoming the agile alternative for private equity and real estate administration solutions globally.”
Scot Hadley commented: “Joining forces with and being part of the successful Crestbridge Group is an exciting new chapter for us here at Ovation that will allow us to offer an expanded service offering and wider breadth of services to our clients.”
The office is based in Morristown, New Jersey, and will initially be focused on providing additional services to US domestic funds and connecting existing clients and intermediaries with Group offices.