Mourant Ozannes advised Nexar Capital Group, a global fund investment manager, on its recent acquisition of the Jersey-based fund management group Ermitage.

 Founded in 1975, Ermitage has successfully served its long standing client base with a diverse offering of innovative investment solutions, which include customised hedge fund portfolios, multi- and single manager hedge funds as well as wealth management services. Ermitage has also developed OPTICS, a highly advanced portfolio construction and risk management software tool.

Scott Beechert, Nexar's General Counsel, said:

“We appreciated Mourant Ozannes responsiveness and in-depth knowledge of the fund services business in Jersey. We look forward to working with Mourant Ozannes in taking this strategically important acquisition forward.” The combined Nexar Ermitage Group will have assets under management of US$3.5bn.

Partner, Mark Chambers, and Managing Associate, Matthew Shaxson, advised on the deal. Mark commented:

“We were delighted to act for Nexar in relation to this transaction. This transaction, together with our acting for Vistra in its acquisition of Herald Fund Services business, ably demonstrates Mourant Ozannes' expertise in mergers and acquisitions involving fund managers.”