Leading US Fund Administration Business FLSV Fund Administration Services Agrees Sale to LSE-listed Sanne Group

October 03, 2016

London/New York – Paul Hastings LLP, a leading global law firm, announced today that it has advised FLSV Fund Administration Services LLC ("FAS") and its owners on its agreement for the disposal of FAS to Sanne Group plc for a total consideration of $65,800,000 subject to customary adjustments. The transaction is expected to complete by the end of November 2016.

FAS is a leading New York-headquartered business offering fund administration and reporting services to private equity institutions and alternative asset managers, primarily in North America. Paul Hastings has advised FAS and its owners for a number of years. Sanne Group plc is a specialist global provider of outsourced corporate and fund administration, reporting and fiduciary services.

The Paul Hastings team was led by London Office Chair, Ronan O’Sullivan, and New York Office Chair, Barry Brooks, supported by London corporate associate David Prowse. The Paul Hastings team is also comprised of London partner Arun Birla, New York partner Joe Opich and Washington D.C. partner Eric Keller, as well associate Jiten Tank in London and Of Counsel Emily Pidot and associate Elena Jacque in New York.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.