Inflexion-backed Ocorian acquires Newgate

The company's management team will be staying on following the transaction.

Inflexion carved out Ocorian from Bedell Cristin in 2016. The business has since undertaken an acquisitive growth strategy, with the $100m bolt-on of Mauritius-headquartered Abax Holding in February 2018 – its fourth acquisition in a particularly active six-month period.

Ocorian completed its acquisition of Bridgepoint-backed Estera in February 2020 in a deal that valued the latter at £500-600m.

Most recently, the fund administrator acquired Allegro in April 2020.

Ocorian declined to comment.

Company
Newgate is a London-based compliance consultancy and hosted regulatory service for fund clients, including both established and first-time managers. It was founded in 2014.

People
Ocorian – Farah Ballands (CEO).

Advisers
Acquirer – White & Case (legal); Mazars (financial due diligence, tax); Duff & Phelps (financial due diligence).
Company – Eversheds Sutherland (legal); DC Advisory (corporate finance); Calder & Co (financial due diligence).

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Inflexion Private Equity
• Buy-and-build
• Build-up