Alter Domus, a fully integrated provider of Fund and Corporate Services to alternative investment managers, has announced that on 10 November 2017 it signed an agreement to acquire Cortland Capital Markets Services LLC in the U.S.; the terms of the Transaction have not been disclosed.
Headquartered in Chicago and with offices in New York, London, Los Angeles, Austin, Indianapolis, and China, Cortland is a leading independent investment servicing company providing third-party fund administration and middle and back-office outsourcing to financial institutions, including alternative investment managers, real estate private equity firms and credit funds. It currently has over USD180bn of assets under administration. The firm was founded in 2008 by Doug Hart CEO, Tim Houghton, Lora Peloquin and Russ Goldenberg who are all former LaSalle Senior Executives and currently employs over 400 experienced professionals who are all expected to join Alter Domus as part of the acquisition.
Laurent Vanderweyen, Chief Executive Officer of Alter Domus said, “We are delighted to welcome the Cortland team to Alter Domus as a major step in our long-term strategy to develop the U.S. market as one of our key locations in offering vertically integrated services to our international client base. Cortland has an impressive track record of growth, a strong management team, and the same focus on quality and client service which has been at the core of Alter Domus’ own success over the years. Furthermore, this acquisition complements perfectly our recent acquisition of CARTA Fund Services in February 2017. Our combined services offerings will provide our clients and prospects with seamless access to Alter Domus’ global reach of offices and service lines for all of their U.S. and international needs.”
Doug Hart, Chief Executive Officer of Cortland added, “This is a very compelling transaction for Cortland, its employees and its customers. Alter Domus has established itself as one of Europe’s premier fund administration and corporate services companies, and the firm’s service offerings and geographic footprint in Europe and Asia serve as an excellent complement to Cortland’s capabilities and client base. Becoming part of the Alter Domus Group gives us the ideal platform to expand our real estate and private credit service offerings and accelerate the expansion of our market leading loan services solutions deep into Europe and Asia Pacific. With the combination of these two companies, the Cortland team and I look forward to working alongside Laurent and the Alter Domus team to create the global leader in alternative investment servicing.”
Doug will become ‘Regional Executive North America and Country Executive US’ on completion of the transaction.
The transaction is subject to certain regulatory approvals and other customary closing conditions.
