CSC acquires boutique investment firm servicer
WILMINGTON – Seeking to accelerate its services for private capital firms and their investors, CSC has acquired New Jersey-based PEF Services.
CSC, the world’s leading provider of business, legal, tax, and digital brand services, sought out the 19-year-old PEF, which is one of the leading boutique firms serving the niche industry of capital investment firms and small business investment companies (SBICs). The terms of the acquisition between the two private firms were not disclosed.
“We’re very excited to welcome Anne Anquillare and the entire PEF team to CSC,” CSC Executive Vice President John Hebert said in a statement announcing the deal. “Their deep expertise in fund administration complements our existing capabilities, while their commitment to service excellence aligns well with our company culture.”
PEF was founded to support the unique compliance and reporting needs of SBICs, or federally licensed entities that have unique reporting requirements that many firms are not set up to support. It has since branched out to serve all types of illiquid alternative asset firms.
PEF President and CEO Anne Anquillare will join CSC as the head of its U.S. Fund Services, while PEF Chief Operating Officer Beth Manzi will lead CSC’s U.S. operations for fund administration. Oleg Yablonovskiy, managing director of CSC U.S. Fund Services, will move into a strategic role to drive synergies between the businesses. PEF’s tenured team of professionals will also join CSC immediately as part of the acquisition.
In addition to PEF’s staff, CSC will now have access to PEF’s industry-leading ViewPoint investor and general partner portal. Since its inception, PEF has been at the forefront of fund administration technology, providing its clients with a mix of proprietary technologies and industry-standard platforms.
“As market requirements expanded, we searched for the perfect partner to enhance the exceptional fund administration services and technology solutions we provide,” Anquillare said in a statement. “CSC already has tremendous resources supporting private capital firms on a global scale and we will be a natural extension of those services. In turn, CSC recognized PEF’s reputation for having one of the most skilled and respected teams in the industry, leading-edge portal technology, and thought leadership in private capital. Both firms share a commitment in supporting private capital firms with excellent customer service, innovative technology, and investing in our people.”
With CSC already serving 90% of the Fortune 500, nearly 10,000 law firms, and more than 3,000 financial institutions, the company is increasingly looking at investment firms as a growth area. Last year, it obtained a fund administration license in Ireland, which is home to many multinational companies and investment funds. It reportedly plans to obtain a similar license in Luxembourg after already holding another in the Netherlands.