International asset management consultancy, MJ Hudson, has acquired Bridge Group. The funds service provider based in Ireland has 27 permanent staff, all of whom will transfer to MJ Hudson, conditional on Irish regulatory approval.
MJ Hudson helps fund managers and investors operate more efficiently and invest more successfully. The firm’s services include law, fund management solutions, international fiduciary, investment advisory, and IR & marketing. As the consultancy prepares for a busy 2021, MJ Hudson has announced the acquisition of Bridge Group, a funds service provider based in Ireland.
Conditional on Irish regulatory approval, the deal seeks to build on MJ Hudson’s specialist funds operations in London, Luxembourg and Guernsey, adding a strategically important geography to the MJ Hudson network. It represents a particularly important move before the closing of the year, as it means MJ Hudson can now offer clients representation in each of the principal UK and European fund centres as the culmination of Brexit approaches. At the same time, MJ Hudson’s global clients can now access the deep Irish funds market, which has become the favoured location in Europe for US, UK, and Asian fund managers to establish their Undertakings Collective Investment in Transferable Securities (UCITS) offerings.
Matthew Hudson, CEO, MJ Hudson, commented, “The acquisition of Bridge Group in Ireland is a key milestone for MJ Hudson’s Manco and regulatory platform offering… Together with our equivalent London, Luxembourg and Channel Islands offerings, MJ Hudson is now one of the largest independent regulatory platforms for asset management clients, and especially alternatives. The acquisition also gives us an extended Manco capability and a timely UCITS platform that complements our AIFM platforms in the UK, Luxembourg and Guernsey.”
Founded in 2005, Bridge Group is a Dublin based provider of specialist support services to the funds sector. The firm offers regulatory compliance, domiciliation and risk services and is authorised to provide third party management services to both UCITS and alternative investment fund platforms. With 27 permanent staff, the company services 100 asset managers, with more than €120 billion in assets.
Following the acquisition, all Bridge Group’s staff will transition to MJ Hudson, and the business will trade under the MJ Hudson brand. The directors and staff of Bridge Group will remain fully active in their existing roles, while the deal substantially increases MJ Hudson’s outsourcing division revenues, staff numbers and capabilities.
David Dillon, Director and co-founder, Bridge Group, commented, “This is a very exciting transaction from Bridge’s perspective. We had been looking for a partner, rather than an investor, to strengthen our footprint, internationally. Joining MJ Hudson hits a number of sweet spots: it strengthens our ability to provide clients with access to a regulated management company and governance services in Ireland, the UK, Luxembourg, and Guernsey; further, the merger gives Bridge clients access to a broader range of resources and international consultancies, such as MJ Hudson’s specialist ESG Consultancy and its provider of Operational Benchmarking services.”