Originally published 23 January 2009
Praxis Fund Services in Guernsey has signed an initial agreement
to purchase Investec Administration Services Limited
("IASL").
The completion of formal legal documents is expected to be
finalised by the end of January.
Praxis Fund Services is a specialist administration services
business for institutional funds with diverse investment profiles
ranging from property and private equity funds to hedge and fund of
hedge funds.
Praxis Managing Director Chris Gambrell said: "I am excited
by the new acquisition which demonstrates the continuing growth and
commitment of Praxis to its international fund administration
business.
"Like Praxis, IASL has its roots in professional fund
administration services and there is a good cultural fit between
the companies with a strong focus on entrepreneurialism, energy and
enthusiasm. We share an emphasis on first-rate, professionally
qualified people demonstrating expertise and commitment
