ZEDRA said on 12 December that it has agreed to invest in RBB Business advisors, a specialist provider of global expansion services in France.
A day earlier it also announced that it had joined forces with Gryphon, an Ohio-headquartered Fund Administrator, providing accounting, administration, and tax preparation and advisory services to the private fund ecosystem.
RBB Business advisors provides accounting, reporting, payroll, HR and tax services to both a domestic and international client base.
This latest transaction, deemed a cornerstone expansion in France, will enhance ZEDRA’s strategy in the corporate space, reinforcing the ambition to be recognised as an international leader in Corporate & Global Expansion, Active Wealth, Funds Services and Pensions & Incentives.
ZEDRA will welcome 33 employees who have been providing services to a wide range of clients through their offices in Paris and Auray. This brings ZEDRA’s headcount to over 1,200 experts across 17 countries spanning Asia, the Americas and Europe.
Both organisations share core values focused around placing clients at the centre of everything they do. Together they will provide clients with access to a diversified service offering across ZEDRA which in turn will facilitate deeper and stronger relationships.
Ivo Hemelraad, CEO at ZEDRA, commented: “We are delighted to welcome the team from RBB Business advisors. The combined extensive experience and knowledge will be a great asset as we look to further grow our footprint in France and expand our capabilities within the Corporate & Global Expansion space.”
Thierry Bretout, President at RBB Business advisors, commented: “Since its foundation in 1982 in Paris, RBB Business advisors has developed several areas of specialism, in particular providing assistance to cross-border operations and supporting innovative companies. We are very happy and excited to join ZEDRA in continuing to serve our clients as a global partner and expand our range of services”.
RBB Business advisors was founded in 1982 in Paris. The firm, its partners and people, have developed over the years several specialisations, including assistance to cross-border operations, and support to innovative companies, a sector in which we are very present. Throughout its development, RBB Business advisors has been able to adapt to market needs by moving towards growing sectors such as technology. For more than 25 years, RBB have supported technology and growth companies.
The strategic development in the US with Gryphon will enhance ZEDRA’s comprehensive global fund service offering, allowing Fund Managers and General Partners to consolidate their service provider and outsourcing needs into one streamlined solution. The transaction significantly expands ZEDRA’s US Fund Administration business, doubling its size and positioning the Company in an enviable position with a strong presence throughout Asia, the Americas and Europe.
With over $10 billion in assets under administration, Gryphon has built a strong reputation for delivering high-quality services to private funds. By integrating Gryphon’s services into ZEDRA’s existing portfolio, this brings their combined assets under administration to circa $30 billion. This partnership will provide clients with an unparalleled, comprehensive suite of fund solutions designed to meet all of their back-office and tax reporting needs.
Joining forces with Gryphon represents the next step in ZEDRA’s international growth strategy under the support of Corsair and BCI, who partnered with the Company as its majority investor in 2018 and as a minority investor in 2023, respectively.
Today’s announcement also follows ZEDRA’s acquisition of Atlas Fund Services in 2022, which solidified its foothold in the Western hemisphere and enhanced its ability to service US and Latin American investment managers from Atlas’ offices in Charlotte, North Carolina and Curaçao.
ZEDRA chief executive officer Ivo Hemelraad said: “We are delighted to welcome Gryphon into the ZEDRA family. This collaboration aligns perfectly with our strategy to provide fund managers and their investors with a complete, end-to-end solution that streamlines operations and enhances efficiency in the US and globally. Gryphon’s expertise and commitment to excellence are a natural fit for our organisation, and we look forward to working together.”
Gryphon founder & chief executive officer Chris MacLaren said: “We are excited to join forces with ZEDRA. Our shared vision of providing a premium experience for fund managers and their investors through comprehensive, high-quality solutions made this partnership an ideal match. Together, we will be able to offer our clients even greater depth and support as they navigate the complexities of their business.”
Both companies will work closely together to ensure a smooth transition for all clients and employees.
Gryphon, headquartered in Beachwood, OH, provides a cohesive fund administration and tax service offering to private investment funds and management companies. Servicing more than 150 funds with over $10 billion in assets under administration, Gryphon’s client base includes Venture Capital Funds, Private Equity Funds, Hedge Funds, Special Purpose Vehicles, and Family Office Clients.
