Wilmington-based business service provider CSC has acquired PEF Services LLC (PEF), a New Jersey-based company that provides tech-enabled fund administration services to private capital firms and their investors.
The move will expand CSC’s fund services capabilities in the U.S., and increases its tech offerings in the private capital fund administration market as it expands into Europe and Asia.
PEF was founded in 2002 to manage the complex compliance and reporting needs of small business investment companies, and eventually evolved its tech platform to include all types of illiquid alternative asset firms.
“Their deep expertise in fund administration complements our existing capabilities, while their commitment to service excellence aligns well with our company culture,” CSC EVP John Hebert said in a statement.
Anne Anquillare, CEO and president of PEF, will become the head of CSC U.S. Fund Services, while COO Beth Manzi joins to lead 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.
CSC will now have access to both PEF’s client services team and its ViewPoint investor and general partner portal.
“As market requirements expanded, we searched for the perfect partner to enhance the exceptional fund administration services and technology solutions we provide,” Anquillare said. “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.”
Financial terms were not disclosed.
CSC, formerly known as Corporation Service Company, was founded in Wilmington in 1899. Here’s our 2017 look at how the company has managed to evolve with the times, and at its then-new HQ at the corner of Lancaster Pike and Centerville Road that can house 650 employees.