Money management consultancy MJ Hudson is acquiring Dublin-based fund service provider Bridge Group.
The deal, which is subject to Irish regulatory approval, "adds a strategically important geography to the MJ Hudson network," a news release said. MJ Hudson already has specialist-funds operations in London, Luxembourg and Guernsey.
Though the deal is the first on-the-ground presence in Ireland for MJ Hudson, the firm has "good relationships with many Irish firms," a spokesman said.
Financial details were not disclosed.
Bridge Group provides regulatory compliance, domiciliation and risk services to more than 100 money managers representing over €120 billion ($140.6 billion) in assets. The firm is also authorized to provide third-party management services to UCITS and alternative investment fund platforms.
All Bridge Group staff will move to MJ Hudson and the business will trade under the MJ Hudson brand.
The deal means MJ Hudson "can now offer clients representation in each of the principal U.K. and European fund centers, as Brexit approaches," CEO Matthew Hudson said in the release. "Alongside the wider resources, offerings and expertise of the MJ Hudson Group, the network effect we provide makes for a compelling proposition to the many new clients we welcome as part of the transaction. We are delighted that the Bridge Group team has decided to join us, and we look forward to helping the business to grow."
David Dillon, director and co-founder at Bridge Group, said in the release that the firm had been looking for a partner to help strengthen its international presence.
