Astorg backed IQ-EQ to acquire Davy Global Fund Management
IQ-EQ has acquired Davy Global Fund Management (DGFM), part of Davy Group, one of Ireland’s largest domestic financial services businesses servicing a domestic and international client base from its offices in Dublin, London and Luxembourg.
The strategic combination of IQ-EQ and DGFM creates an established full service funds business in Ireland with a proven track record and prominent market position. The transaction, which is subject to regulatory approval, is expected to complete by the end of 2021 following which DGFM will rebrand to IQ-EQ.
Formed in 2014 DGFM has grown largely organically and today employs 83 people – 68 based in Dublin, 13 in Luxembourg, one in London and one in Chicago. The firm is a market leader in Real Estate ManCo services in Ireland with a leading position in the Private Equity space.
The newly combined Irish business, which will offer Corporate Administration, Fund Administration, Fund Management and Portfolio Management services, will comprise 110 employees located in Dublin and Shannon. Following receipt of regulatory approval, Tom Berrigan, DGFM Chief Executive Officer and Paul Giblin, DGFM Managing Director will join the IQ-EQ UK & Ireland senior leadership team.