Dentons assisted Adepa, an independent Luxembourg based management company and fund administrator, in relation to its alliance with Inversis, a wholly owned subsidiary of Banca March Group, which provides institutional clients with global solutions for distribution of investment funds.

Adepa is present in four countries (Luxembourg, Italy, Spain and Chile) and is licensed to manage and administer both UCITS and alternative investment funds, covering a comprehensive range of asset classes including real estate, private equity, derivatives, commodity and fixed income funds.

Under the terms of the transaction documents, on the closing date Inversis will acquire a 40% stake in Adepa, through a purchase of shares and a dedicated capital increase. This acquisition is subject to the approval of the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg and includes an option for Inversis to increase its shareholding in Adepa up to 100% after seven years.

The alliance between Adepa and Inversis aims at accelerating the international rollout of the parties’ services in both management company and fund administration businesses (including investor services), while positioning them to provide asset and wealth managers with local solutions in their home markets, as well as a Luxembourg-domiciled solution for cross-border requirements.

Carlos Alberto Morales, CEO of Adepa, was assisted by the management team, including Cristobal Oraa (CFO), Francisco Garcia Figueroa (Head of Legal & Compliance), and Alessandro D’Ercole (Deputy CEO & Head of Business Development).

Dentons acted with a cross-border team from Italy, Spain, Luxembourg and Chile, led by Milan-based partner Pier Francesco Faggiano. The team in Italy also included counsel Claudio Segna and trainee Sergio Del Balzo for corporate and M&A issues, as well as partner Andrea Fiorelli and counsel Matteo Chinaglia for tax matters.

For Luxembourg, the team included partner Namik Ramić, senior associate Clémence Personne and associate Jade Serres for corporate and M&A issues; senior associate Maria Rodriguez for regulatory advice; as well as partner Jean Luc Fisch and counsel Vincent Quittre for tax matters.

For Spain, the team included partner Jesús Durán and senior associate Jorge Carmona for corporate M&A issues; partner Fernando Gutiérrez and associate Alvaro Barturen for regulatory advice; partner María Cortizas and senior associate Diego Carrera for tax matters.

For Chile, the team included partners José Manuel Larraín and Juan Vigón and associate Daniela Llanos for corporate and M&A issues.

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