Permira's Alter Domus bolts on Cortland

The transaction is the fourth deal Alter Domus has signed so far in 2017, according to press releases.

Permira is invested in Alter Domus via the Permira VI fund, which closed in January 2017 on €7.5bn.

Permira acquired a minority stake in the fund services provider in November 2016. Alter Domus's management kept a stake in the group after completion of the deal.

Founded in Luxembourg in 2003, Alter Domus provides fund and corporate services dedicated to international private equity and infrastructure houses, real estate firms, private debt managers, capital market issuers and private clients. The group offers fund administration, accounting, consolidation, tax and legal compliance, depositary and debt administration services.

Alter Domus currently advises on $100bn in assets under management.

Company 
Cortland is an independent investment servicing company providing third-party fund administration and middle- and back-office outsourcing to financial institutions, including alternative investment managers, real estate investors, private equity firms and credit funds. Founded in 2008, it currently has $180bn in assets under administration. It currently employs 400 professionals who are all expected to join Alter Domus as part of the acquisition. The company is headquartered in Chicago and has offices in New York, London, Los Angeles, Austin, Indianapolis and China.

People
Permira – Philip Muelder (co-head financial services).
Alter Domus – Laurent Vanderweyen (CEO).
Cortland Capital Markets Services – Doug Hart (CEO); Tim Houghton, Lora Peloquin, Russ Goldenberg (managing directors).  

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