PraxisIFM sells fund administration business to focus on private wealth

News Team, 28/07/2021

PraxisIFM has agreed to sell its fund administration division to Sanne Group in an all-cash deal in excess of £50 million.

The deal equates to 20 percent of the Guernsey headquartered firm’s overall business revenue.

PraxisIFM is selling the business to focus on developing its private wealth and corporate services divisions, as well as its pension administration offering.

The agreement with Sanne, which is subject to PraxisI...

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