Highvern and Permian combine to create new leading fund and private capital services platform
Telemos Capital, Highvern and Permian are pleased to announce the signing of binding agreements to combine Highvern and Permian to create a leading international funds and private capital services provider. Telemos, the current majority shareholder of Permian, Levantor (former majority owner of Permian) and Highvern founders Martin Hall and Naomi Rive will reinvest alongside both senior management teams to continue investing in service offerings, people and technology in order to meet the evolving needs of clients and to support future growth.
Highvern, a leading provider of bespoke solutions in fund services and private capital, and Permian, the leading fund services provider for alternative investment funds in the Nordic region, are already leaders in their respective markets. The Permian and Highvern brands are long-established and have built strong reputations for service quality and the strength of their client relationships. These will remain central to the group’s future values and strategy going forward.
Together, they operate in 7 jurisdictions with close to 300 employees and plan for further accelerated organic growth, as well as further expansion into new strategic markets.
Philippe Jacobs, Chairman and Founder of Telemos, and Johan Pettersson, Head of Business Services, commented: “We are excited to bring these two first-class businesses together and are grateful to both management teams for their trust by choosing us as their partner. By leveraging our sector expertise and international network, we look forward to supporting the management teams with their plans to create a world-class, customer-centric, next-generation international funds and private capital services provider.”
Marianne Normann, CEO of Permian, added: “Following Telemos’ investment in Permian last year, this announcement is an early demonstration of the benefits of working with forward-thinking partners. Together with Highvern, we look forward to expanding our reach and serving our clients in new geographic markets. The combined group will be differentiated in the marketplace by its technologydriven high-quality service offering, allowing us to grow alongside our clients.”
“Family capital is the ideal source of growth funding for an ambitious and respected business like ours,” said Martin Hall, CEO of Highvern. “We have got to know the Telemos team closely over the past few years and are confident that we will continue to serve our clients with the same focus on quality while accelerating our fund administration and private capital service lines in this new combination.”
Subject to regulatory approvals, the transaction is expected to close by mid-2025.
Telemos Capital was advised by Linklaters, Marlborough Partners, E&Y, Alvarez & Marsal, Capstone and Deloitte. Highvern was advised by Addleshaw Goddard, Raymond James and E&Y.
