Fund advisory firm IQ-EQ has a strong foothold in the US after its acquisition of Blue River Partners, a provider of outsourced solutions for alternative asset managers.

This is IQ-EQ’s first foray into the US private equity and hedge fund space, giving the firm an offering of 200 funds professionals across the country in major cities including Austin, Chicago, New York and San Francisco.

Given brand recognition, IQ-EQ will retain the Blue River Partners name and continue to market its services in the U.S. as ‘Blue River Partners, part of IQ-EQ’.

The move is significant as the US is the largest fund administration and regulatory compliance market in the world, enhancing the company’s offering substantially.

Mark Fordyce, CEO and founding partner of Blue River Partners, will assume the role of CEO Blue River Partners, part of IQ-EQ, overseeing the 200 strong US operation and will take up his position as part of the Group’s executive leadership team. Fellow Blue River founding partner, Michael Minces and IQ-EQ’s Group Chief Executive Officer, Mark Pesco and IQ-EQ’s Group Head of Funds, Justin Partington, will join him on the board of the U.S. business.

Speaking on the completion of the deal, IQ-EQ Group Chief Executive Officer Mark Pesco said in a statement: “I am delighted to welcome Mark, Mickey and the wider Blue River team to IQ-EQ and am confident that together we will make a truly formidable team.

“This deal marks a significant milestone for the IQ-EQ team and another important step in our long-term strategic growth plan. Blue River’s entrepreneurial approach and clear commitment to delivering client service excellence make them a natural fit and an important part of our future U.S. expansion plan.”