First Abu Dhabi Bank (FAB) has acquired a 100% stake in Bahrain-based Yasira Financial Services to expand its fund administration business. The transaction’s financial terms were not disclosed.
Yasira provides fund administration and trust services for public and private-market investments, including private equity, venture capital and real estate strategies. Its services for private-market funds include managing investor commitments, capital calls, allocations, reporting and distributions.
According to the announcement, the acquisition will combine Yasira’s capabilities with FAB’s existing custody, cash management and foreign exchange services.
Yasira will be rebranded and integrated into FAB’s Securities Services business. Pantelis (Linos) D. Lekkas, FAB’s Group Head of Investment Banking and Markets, said the bank will prioritise continuity for Yasira’s clients while investing in the platform, talent and capabilities needed to support their growth.
Source: Fintech News Middle East
