Gryphon Joins Forces with ZEDRA to Expand Global Fund Services
Deal News | Dec 11, 2024 | Corsair Capital
ZEDRA has announced the acquisition of Gryphon, an Ohio-based fund administrator, to enhance its comprehensive global fund service offering. This strategic move allows ZEDRA to support fund managers and general partners with a consolidated service provider solution. The acquisition doubles the size of ZEDRA's US fund administration business, positioning it strongly across Asia, the Americas, and Europe. Gryphon's integration brings combined assets under administration to approximately $30 billion. Backed by majority investor Corsair Capital since 2018 and minority investor BCI as of 2023, this move complements ZEDRA's international expansion strategy. Gryphon and ZEDRA are committed to providing exceptional solutions for private investment funds through a seamless transition for clients and employees.
Sectors
- Financial Services
- Private Equity
- Investment Management
Geography
- United States – Gryphon is headquartered in Ohio, and the acquisition strengthens ZEDRA's U.S. presence, making this a significant geography in the article.
- Canada – BCI, a significant investor involved in this transaction, is based in British Columbia, Canada.
- United Kingdom – ZEDRA, with global operations including Europe, is under the management of its office and advisory presence in the UK.
Industry
- Financial Services – The article concerns the financial services industry, focusing on fund administration, accounting, and tax advisory services.
- Private Equity – Corsair Capital, the PE firm backing ZEDRA, plays a significant role in the acquisition, highlighting the involvement of the private equity industry.
- Investment Management – ZEDRA and Gryphon operate within the investment management sector, offering services catered to private funds, hedge funds, and other investment entities.
Financials
- $10 billion – Gryphon's assets under administration prior to acquisition.
- $30 billion – Combined assets under administration post-acquisition with ZEDRA and Gryphon.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ZEDRA | Acquiring Company | Company | A global fund services company providing comprehensive solutions for fund managers and general partners. |
| Gryphon | Target Company | Company | An Ohio-headquartered fund administrator with over $10 billion in assets under administration. |
| Corsair Capital | Majority Investor | Company | A specialist investment firm focusing on private markets, providing critical backing for ZEDRA. |
| BCI (British Columbia Investment Management Corporation) | Minority Investor | Company | One of Canada's largest institutional investors, playing a supportive role in ZEDRA's expansion strategy. |
| Ivo Hemelraad | CEO of ZEDRA | Person | Provides leadership for ZEDRA, emphasizing strategic growth and integration of acquired companies. |
| Chris MacLaren | Founder & CEO of Gryphon | Person | Leads Gryphon and is enthusiastic about the partnership with ZEDRA to enhance fund services. |