Helvetic Fund Administration has acquired Capita Financial Administrators (Gibraltar), Fundamentals reports. As per the agreement, Capita Financial’s Gibraltar-based staff along with £500 million in assets under administration will move to Helvetic.

Capita will continue to offer outsourced back office functions via Capita Sinclair Henderson, located in U.K. during the acquisition, adds HedgeWeek. Isolas (Gibraltar) and Eversheds U.K. acted as advisers during the purchase.

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