The IQ-EQ investor group buys Davy Global Fund Management (DGFM), which is part of the Davy group.
he central part of Davy is expected to be sold to Bank of Ireland.
IQ-EQ said the combination of the two companies “creates a full service fund business established in Ireland with a proven track record and a leading market position”.
The deal, which is subject to regulatory approval, is expected to be finalized by the end of the year.
Founded in 2014, DGFM now employs 83 people – 68 based in Dublin, 13 in Luxembourg, 1 in London and 1 in Chicago.
The newly consolidated Irish company will provide business administration, fund administration, fund management and portfolio management services.
It will have 110 employees located in Dublin and Shannon.
Following receipt of regulatory approval, Tom Berrigan, Managing Director, DGFM, and Paul Giblin, Managing Director, DGFM, will join the IQ-EQ UK & Ireland leadership team.
Tom Berrigan, CEO of Davy Global Fund Management, said: “All of us at DGFM are delighted to join forces at IQ-EQ with whom we share similar attitudes in terms of the importance we place on our employees. and the levels of service experienced by our customers. “
“Being part of a truly global service provider will both enhance our customer service offering while providing our employees with the opportunity to continue to develop their careers and broader expertise. “