IQ-EQ Acquires U.S. Based South Watch LLC

Latest acquisition strengthens its end-to-end fund administration capabilities in the U.S.

IQ-EQ, an Astorg portfolio company, has announced the strategic acquisition of South Watch LLC (“South Watch”), a boutique provider of comprehensive fund administration, outsourced CFO support, and tax preparation services to hedge fund managers in the United States and Cayman Islands. The business, which expands IQ-EQ’s footprint in the Boston market, was acquired from the majority shareholder, Everlane Equity Partners, and principal employee shareholders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250520403140/en/

Commenting on the announcement, Mark Pesco, Group Chief Executive Officer at IQ-EQ said:

“We’re delighted to welcome the South Watch team to the Group. Their reputation and expertise in hedge fund administration makes them the perfect addition to our U.S. business, further enhancing our comprehensive client offering. IQ-EQ’s team in the U.S. has grown to over 630 experts servicing an expanding client base across 14 offices nationally. With Kirby, Paul and David and the rest of the South Watch team onboard I’m confident that together we’ll continue to go from strength to strength.”

The South Watch partners, Paul Timmins, Kirby Richards and David Loescher, will continue to lead the business ensuring continuity of the day-to-day delivery of services for its clients.

As part of IQ-EQ U.S., Paul Timmins takes on the role of Head of Product, Liquid Funds; Kirby Richards and David Loescher take on the roles of Co-Head of Fund Administration, Liquid Funds.

Paul Timmins, Head of Product, Liquid Funds, commented:

“This deal marks an exciting new chapter for the entire South Watch team and is testament to the strong business that we have built together. We are deeply grateful to every client, business partner and employee who have helped shape our success along the way. Becoming part of a growing global business like IQ-EQ opens up significant opportunities for innovation, collaboration and continued growth. We see this as another powerful step forward on our journey and are motivated and excited about what the future has in store.”

Co-Head of Fund Administration, Liquid Funds, David Loescher added:

“Kirby and I are delighted to assume the roles of Co-Heads of Fund Administration, Liquid Funds within IQ-EQ’s U.S. business. For our clients this deal means immediate access to global expertise, advanced technology and a vastly expanded suite of products and services tailored to drive their business success. For our employees it paves the way for new career paths, professional development and the chance to work with and learn from their global colleagues across the Group. We are excited to bring the best of both firms together and look forward to the wealth of possibilities that lie ahead.”

South Watch was founded in 2016 by Paul Timmins and David Loescher. Kirby Richards joined the business as a managing partner in 2017.

Work to rebrand South Watch to IQ-EQ will begin immediately as part of the integration program.

Note to editors

About IQ-EQ

IQ-EQ is a global, top-tier investor services group with an unrivalled offering to meet the administration, compliance, and reporting needs of the investment sector in full and worldwide.

What makes us different is our people. Operating as trusted partners to our clients, we deliver intelligent solutions through a combination of well-honed technical expertise and strong relationships based on deep understanding. We’re driven by our Group purpose, to power people and possibilities.

We make life easier, more efficient and cost effective for our clients – be they fund managers, pension or sovereign wealth funds, multinational companies, or family offices – by providing everything in one place. Our services are underpinned by a Group-wide commitment to ESG and best-in-class technology including a global data platform and innovative proprietary tools supported by in-house experts.

Following this transaction, we’ll employ a global workforce of almost 6,000 people across 27 jurisdictions and have assets under administration (AUA) exceeding US$750 billion. We work with 13 of the world’s top 15 private equity firms. Also part of the IQ-EQ group of companies are First National Trustee Company, The Private Office, AGAMA Group and AMAL (subject to regulatory approval).

To find out more about IQ-EQ visit iqeq.com.

About Astorg

Astorg is a leading pan-European private equity firm with over €23 billion assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance, and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt, and Milan.

For more information about Astorg: www.astorg.com | Follow Astorg on LinkedIn

View source version on businesswire.com: https://www.businesswire.com/news/home/20250520403140/en/