Ocorian boosts funds offering

Monday 04 May 2020

Ocorian has bought Allegro S.à r.l., a Luxembourg based third party management company (ManCo) and fund administrator.

Allegro is fully licenced to provide ManCo and fund administration services to AIF, RAIF, non-AIF and UCITS funds. It has c. €8.7bn in AUM, primarily in underlying investment strategies with a PE/RE focus.

Founded twelve years ago, its multiple regulatory licences means it provides comprehensive services in the alternative asset space. Together Ocorian and Allegro plan to offer a one-stop-shop for fund groups to maximise the benefit of centralising their administration to create economies of scale.

Farah Ballands, CEO at Ocorian said: “Acquiring Allegro is a major milestone for Ocorian and is the first acquisition that has completed since our transformational merger with Estera earlier this year. Allegro’s recognised track record and focus on providing high quality client service will support Ocorian’s bold ambitions and growth plans.”

Thomas Fahl, CEO of Allegro added: “There is tremendous cultural compatibility between our firms, with each of us valuing the quality of our services and commitment to clients, staff and other stakeholders. Our partnership with Ocorian is a true enhancement of the services we offer our clients. An expanded international footprint and specialist expertise means we can continue to deliver the levels of personalised service our clients are used to and now can also offer a significantly broader range of fund and fiduciary solutions. We are looking forward to being part of Ocorian and to building on the success we have already achieved.

“It will be business as usual for both Allegro’s employees and clients. Our primary objective is to ensure that we retain the Allegro spirit and culture that has served its client base so well over the last twelve years.”

Simon Behan, CCO at Ocorian said: “This is a very exciting acquisition as Allegro’s business is highly complementary to our existing offering. The combination of our two businesses provides an appealing service model, as fund groups seek to minimise costs by using one entity with two or more authorisations across multiple asset classes and fund types. Allegro is ideally placed to deliver full ManCo and fund administration services significantly enhancing our global funds offering.” 

Pictured top: Farah Ballands.