VBK+CO grows its footprint by expanding its Fund Administration practice by acquiring an equity interest in Luxembourg based Radices Fiduciam SA (“Radices”)
June 5, 2018
VBK+CO, a global independent provider of fund administration, accounting and compliance services to investment funds, family offices and corporate clients announced today that it has acquired an equity interest in the Luxembourg based Radices.
Radices was established in 2008 and is supervised by the Commission de Surveillance du Secteur Financier (the “CSSF”), the supervisory authority of the Luxembourg financial sector. The firm has, amongst others, the status of Registrar Agent, Corporate Domiciliation Agent, Administrative Agent of the financial sector and Client Communication Agent. Radices is a niche player providing back office solutions to the Luxembourg alternative investment sector and its investors.
Luc Vuurmans, Managing Director of VBK+CO said “The acquisition is part of VBK+CO’s growth plan to expand its business in carefully selected jurisdictions to deliver a broader and stronger range of fund administration and corporate services, addressing the needs of fund management groups and international investors”.
The current management of Radices is composed of Gustave Stoffel and Jean Martin Stoffel. They will bring to VBK+CO their extensive experience within the Luxembourg market and expand the Luxembourg capabilities further in the future.
Dave Bos, Managing Director of VBK+CO commented “As we grow and expand our operations, we need to be where our clients want to do business. Luxembourg is that place and therefore constitutes a natural extension for us. It will be a key part of our network and an important hub for us to provide fund administration and corporate services”.
“We are very excited about our new opportunities with VBK+CO” said Jean Martin Stoffel, CEO of Radices. “We now offer through our association with VBK+CO on a global scale, unequaled experience and professionals in alternative assets, administration, compliance, accounting and financial statement assembly”.
The transaction has been approved by the CSSF and the firm in Luxembourg is now operating under the new name Radices VBK+CO (Luxembourg) SA.
VBK+CO has offices in Amsterdam, Geneva, Sofia, Mumbai and The British Virgin Islands and strategic partners in the UK and the USA. The firm is rendering fund administration, accounting, compliance and corporate governance services to investment funds, family offices and corporate clients. VBK+CO administers in excess of USD 12bn in investment funds and for family offices, representing a variety of strategies including long only, hedge fund, private equity, CTA and “fund of funds”.
VBK+CO is regulated by the Dutch Central Bank in The Netherlands, by the CSSF in Luxembourg and by the Financial Services Commission in the British Virgin Islands. The company has in place, on all its processes, an ISAE 3402 Type II audited by Deloitte. ISAE 3402 is a global assurance standard for reporting on controls at a service organization.
Radices is a Professional of the Financial Sector in Luxembourg. Its principals have acquired over 40 years’ experience in the Luxembourgish financial sector and specialize in administration services offered to international investors, promoters and family offices active in the securities market, as well as in real estate and private equity management.
The firm was established in 2008 and is supervised by the Commission de Surveillance du Secteur Financier (CSSF), the supervisory authority of the Luxembourg financial sector.