10 October, 2019

MMC purchase Aegis

MMC have purchased investment administration and custody businesses, Aegis and ICSL.

MMC are a specialist New Zealand outsourced fund and investment administration business, based in Auckland providing outsource services to fund managers since 2004. [The company is 49.5% owned by Pencarrow Private Equity and 50.5% owned by management.

MMC had identified private wealth administration as a natural adjacent opportunity and saw the chance to enter this sector of the market at scale by purchasing Aegis. This purchase marks a significant milestone for MMC who are looking to build onto their outsourced fund and registry administration capabilities.

“In May this year when ASB announced that there was to be a strategic review of Aegis, we saw a good opportunity to extend our offering with the benefit of bringing on existing Aegis clients, staff and resources to provide scale and a diverse client base in private wealth.” says Tom Reiher, MMC CEO. “Aegis is a good business which requires continued investment and strategic management focus to ensure its customers continue to receive excellent levels of service into the future.”

For a further quote: “We’re excited to confirm our acquisition of Aegis. The transaction marks a significant milestone for us as we’ve been looking to grow through diversifying our service offerings into adjacent areas, and the acquisition of Aegis gives us the opportunity to expand further into private wealth. We’re committed to investing for the long term and look forward to having the Aegis team join us and working with the wide-range of existing Aegis clients to ensure their long-term success. We have nothing more to add at this time”

Details of the sale are confidential.

Latest Articles

2 May, 2022

Apex Group strengthens global presence with close of MMC acquisition

The New Zealand investment market will benefit from a broad range of leading investment administration services.

Read the full story
17 January, 2022

Apex Group acquires MMC

This acquisition will further accelerate MMC clients' success by leveraging Apex's global best practice combined with MMC's local knowledge.

Read the full story
6 December, 2021

Kiwi Wealth invests for the future

Kiwi Wealth has gone live with MMC's platform and services.

Read the full story
18 October, 2021

Simplicity cement long term relationship with MMC

MMC and Simplicity renew long-standing partnership for fund administration and default KiwiSaver registry services.

Read the full story
20 September, 2021

Kiwi Wealth partner with MMC for administration of their default KiwiSaver Scheme

Kiwi Wealth extend their partnership with MMC to consolidate their fund administration processes and be set up for growth.

Read the full story
6 September, 2021

BNZ goes live with MMC’s registry services for KiwiSaver

BNZ expand their fund administration services with MMC to include registry for their default KiwiSaver scheme.

Read the full story
9 August, 2021

MMC reach NZ$100 billion in Funds Under Administration

MMC mark a fantastic milestone in their successful growth journey.

Read the full story
19 April, 2021

MMC add to C-suite to support growth and innovation

New hires cement technology innovation and operational excellence at the heart of MMC’s services.

Read the full story
15 February, 2021

MMC fully acquire the IFAA Group

Acquisition provides long-term strategic opportunities in Australia.

Read the full story
21 December, 2020

Select Wealth Management renews partnership with MMC

MMC’s vision and roadmap for their wealth administration services were some of the key deciding factors.

Read the full story
14 December, 2020

MMC to launch a New Zealand first investor experience for their clients

MMC Digital & Insights will help MMC's clients to deliver a seamless multi-channel experience to their investors.

Read the full story

Error: Contact form not found.