ZEDRA Group Announces Long-Term Strategic Partnership with Corsair Capital

PR76505

LONDON, November 28, 2018 /PRNewswire=KYODO JBN/ --

    ZEDRA Group ("ZEDRA"), the global specialist in trust, corporate and fund

services, today announced that Corsair Capital LLC ("Corsair"), one of the

longest-standing private equity firms focused on the financial services

industry, has made a majority investment in ZEDRA. Corsair has a long and

successful track record of growing financial services firms across a diverse

range of sectors, and its partnership with ZEDRA will support the firm's

continued growth and global expansion.

         (Logo: https://mma.prnewswire.com/media/790204/ZEDRA_Logo.jpg )

    ZEDRA's network covers 13 jurisdictions across 15 offices in Asia, Oceania,

the Americas and Europe. Its team of nearly 500 industry experts creates and

delivers bespoke trust, corporate and fund services solutions to clients,

including high-net-worth individuals and their families, international

corporations, institutional investors and entrepreneurs. Under the terms of the

agreement, Corsair will acquire the majority of the equity holdings from

ZEDRA's current owners, the Nielsen and Sarikhani families.

    At the close of the transaction, which is expected in 2019, Bart Deconinck,

currently Group Deputy Chairman, will become Group Executive Chairman.

    Mr. Deconinck said, "Corsair's investment and support is a strong

endorsement of ZEDRA's differentiated value proposition, blue-chip client base,

and long-term prospects. Since our acquisition of Barclays' offshore and

onshore trust businesses a little over two years ago, ZEDRA has grown rapidly,

building and strengthening our reputation for innovative and independent

thinking. With Corsair's partnership and operational support, we will be able

to build on these foundations, while continuing to provide our clients with the

service and solutions they have come to expect from ZEDRA. The stewardship of

Niels Nielsen and the support of Ali Sarikhani has been an important factor in

our growth and I would like to thank them for their invaluable support."

    Raja Hadji-Touma, Managing Director at Corsair Capital added, "We're

delighted to announce this investment in ZEDRA. The business is growing

strongly and operates in a sector which remains fragmented, offering exciting

acquisition opportunities of independent businesses and bank-owned trust

subsidiaries. We're backing an ambitious management team, led by Bart

Deconinck, with a proven track record of building leading companies in the

sector. We look forward to bringing together our capabilities at Corsair

with the deep specialist knowledge at ZEDRA to continue delivering an

exceptional service in the trust, corporate and fund services industry to

clients around the world."

    Derrick Estes, Managing Director at Corsair Capital said, "ZEDRA is a

unique firm with unparalleled capabilities in the trust, corporate and fund

services space. We believe our strategic investment, deep financial services

expertise and global network will be critical as ZEDRA continues its rapid

growth. We look forward to working with the team to support this exciting next

phase of ZEDRA's development."

    Niels Nielsen, ZEDRA Group Chief Executive Officer said, "I am tremendously

proud of what we have achieved in the past three years and I am equally

optimistic about the future of ZEDRA. Our new strategic partnership with

Corsair creates opportunities for significant development, and Corsair's

extensive knowledge and experience in the sector will be invaluable to the team

and clients. This is a milestone for ZEDRA, and I personally would like to

thank the management team and staff for their hard work and dedication over many

years and wish them all the best in the future."

    The deal remains provisional, pending full regulatory approval. Terms of the

transaction were not disclosed.

    About ZEDRA

    ZEDRA is an independent, global specialist in trust, corporate and fund

service. At its core are the onshore and offshore trust business acquired from

Barclays in 2016. ZEDRA has a diverse client base, including high-net-worth

individuals and their families, international corporations, institutional

investors and entrepreneurs.

    ZEDRA's 500-strong team of industry experts is dedicated to creating and

delivering bespoke solutions for clients. The business is focused on the strong

commitment of an experienced team, fostering an entrepreneurial approach to

delivering exceptional client services.

    ZEDRA's trademarks of flexibility, boldness and expertise allow it to

respond to complex needs, whilst maintaining the highest standards of corporate

governance in an ever-evolving regulatory environment. It is ZEDRA's ambition

to continue strengthening and expanding its services and to become a leading

industry player.

    About Corsair Capital

    Corsair Capital, LLC, which includes a highly regarded global private

equity platform, is a leading global investor in the financial services

industry. Corsair Capital invests across a range of geographies and cycles, and

in substantially all of the subsectors of the financial services industry

including payments, insurance, asset management, depository institutions, and

specialty finance across North America and Western Europe. More information

about Corsair Capital may be accessed through the website

www.corsair-capital.com [http://www.corsair-capital.com ].

SOURCE: ZEDRA Group