International law firm Simmons & Simmons has advised the co-founders of Constellation Advisers, Boris Onefater and Greg Farrington, on its sale to investor services group, IQ-EQ. Boris and Greg will retain positions with IQ-EQ following the sale.
Constellation Advisers is an industry leading U.S investment management services provider, providing bespoke solutions to a range of traditional and alternative investment management firms, including hedge funds, real estate, private credit and venture capital. The company employs 115 people across six US offices.
The U.S. market continues to be one of the largest and fastest growing fund services and regulatory compliance markets in the world, so the acquisition of Constellation Advisers positions IQ-EQ strongly to continue to build its market position globally, with its assets under administration now exceeding EUR 415 billion.
The Simmons team was led by corporate partners Thierry Somma in Luxembourg and Patrick Boyd in London.
Commenting on the sale, corporate partner Thierry Somma said: “The successful sale of Constellation Advisers to IQ-EQ reflects the growing significance of the alternative asset industry in the US. We wish Boris and Greg well with their new roles as Chairman, Global Head of Outsourced Services and President and Head of Outsourced Services, Americas with IQ-EQ.”