We’re delighted to announce that KB Associates has reached an agreement to join the Waystone Group subject to regulatory approval, delivering a return of 3.7x.
KB Associates is a leading professional services firm specialising in the provision of management company, governance, regulatory and related consulting services to the asset management industry. Headquartered in Ireland, and with offices in London, the Cayman Islands, Luxembourg and Malta, KB Associates employs almost 100 consultants, advises over 250 international asset managers and supports investment funds with assets exceeding €400bn.
Founder of KB Associates, Mike Kirby, will become Executive Chairman -Europe and a Board Member of the Waystone Group. Andrew Kehoe will become CEO of the Waystone Group in Ireland with Barry Harrington and Peader de Barra becoming Managing Directors of the combined Irish businesses.
Since ECI’s investment in 2019, KB Associates has delivered significant growth in its core management company business with AUM increasing sixfold over the past two years to in excess of €120bn. It also established a presence in Luxembourg acquiring EFG Fund Management S.A, a Luxembourg-based management company and subsidiary of EFG International AG, the Swiss Private Banking Group. KB Associates also opened a MiFID investment firm in Malta to assist clients with distribution of investment funds in the EU.