According to BV Investment Partners, the combined entity will provide comprehensive outsourcing solutions across the alternative investment management, family office and trust industries.
Butterfield Fulcrum, an independent hedge fund administrator and FORS, an independent provider of wealth management reporting and administrative services to family offices, multi-family offices, trust companies and private clients, will be brought together into one parent company, headquartered in Bermuda.
They will operate as separate businesses and continue to be run by their current management teams, said BV Investment Partners.
Henderson and Calveley will serve as CEO and COO of the parent company, respectively, and maintain a significant equity stake in the combined entity. Henderson will take on the role of CEO of Butterfield Fulcrum.
The transaction is subject to regulatory and government approvals and is expected to close in the first quarter of 2011.
Morgan Lewis and Ropes & Gray represented the purchaser and investors in this deal.
