Harneys advises Montagu Private Equity on Waystone Deal

Harneys acted on behalf of leading European private equity firm Montagu Private Equity to acquire a strategic stake in the Waystone Group, a specialist service provider for the asset management industry. The agreement is subject to regulatory approval and customary closing conditions.

Waystone serves clients with assets under management totalling more than US$1 trillion, delivering expertise to manage governance and regulatory requirements. It has achieved global scale through a series of carefully planned acquisitions. Montagu’s partnership will aid the growth of Waystone’s existing service offering while supporting further geographic and product expansion through targeted acquisitions.

The Harneys team was led by Cayman Islands based Partner Matthew Taber who was assisted by Counsel Carolynn Vivian.

Matthew commented: “While the Waystone Group has a global presence, with the history of the group, this deal is big for the Cayman Islands in terms of the local funds and asset management industry and we were very pleased to have been able to help Montagu on the deal. For over a decade our Cayman office has provided a full range of Cayman Islands commercial legal services. Deals like this demonstrate the faith that top asset managers have in our ability to get the deal done.”

The global private equity team at Harneys provides legal advice to private equity firms, investors, leading global law firms and sponsors on a wide range of transactions and structures using offshore vehicles. With offices in the BVI, the Cayman Islands, Cyprus, Hong Kong, London, Luxembourg, Singapore, and Shanghai, Harneys serves the world’s largest private equity financial centres, working seamlessly across borders and time zones.