On Thursday 2 May 2024, financial and business services group Vistra announced that it has received the necessary regulatory approvals to complete its acquisition of "Super ManCo" Kroll (Luxembourg) Management Company.
Vistra had announced the deal back in December 2023 and has now received the regulatory green light to complete the process.
With operations in Luxembourg and London (UK), Kroll Manco is set to "fully separate from its parent company" by August 2024, explained Vistra in a press release. It will operate as a "separate entity" within Vistra Luxembourg, "whilst subsequent regulatory permission is sought for a merger with Vistra Fund Management (VFM)".
Vistra added that Jan Vanhoutte, Managing Director & Conducting Officer at VFM, and Anil Singh, Managing Director at Kroll, will "lead the expanded business, working closely together to complete the integration and merger of the two businesses".
Commenting on the acquisition, Jan Vanhoutte said: "This acquisition makes Vistra a leading player in the Luxembourg market and will help service a wider range of asset classes and fund types. It will enable Vistra to deliver its ambitious growth plans, aligning with our strategic vision to enhance funds end-to-end service proposition for investment managers and advisers."
Anil Singh added: "Kroll Manco clients will benefit from Vistra's extensive geographic and service coverage of over 9,000 experts in more than 50 markets. The team integration is well underway with Kroll Manco colleagues participating in Vistra's recent brand launch celebrations. We're thrilled to be joining at such an exciting milestone in Vistra's growth journey and the benefits this brings for our clients and colleagues."
