Fund Partners to be acquired by Luxembourg-based FundRock

Will remain based in London

Fund operator Fund Partners is being sold to independent Luxembourg-based UCITS and AIFM management company FundRock (formerly owned by RBS Fund Services).

Fund Partners' owner Professional Partners Administration has reached an agreement to sell the firm, subject to regulatory approval and final contract details, and said the two parties hope the agreement will be signed and sealed "within the next two to three months". Professional Partners chairman, Paul Wilcox, said: "We acquired Fund Partners from IFDS a few years ago, where it operated more or less as a service company for fund managers using their administration services. "We have worked hard on turning it into the UK's leading independent ACD firm and, in many ways, following our...