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DUBLIN, September 2, 2008 - Custom House Global Fund Services Ltd. ("Custom House") and Equity Trust announce the formal merger of Equity Trust�s Fund Services Business and that of Custom House. The merger, which was announced in May, has now received regulatory approval in the various jurisdictions in which Custom House and its subsidiaries operate and is effective on 2nd September 2008.
The merged businesses will operate through "Custom House Global Fund Services Ltd.", a Maltese based Category 4 Licensed company. In addition to the Maltese office, Custom House Global Fund Services Ltd. ("CHGFS") will operate through Custom House offices in Dublin, Luxembourg, Chicago and Singapore, as well as offices in Guernsey and the Netherlands.
The combined businesses have total assets under administration of US$50 billion, acting for approximately 210 managers, through approximately 610 funds (including sub-funds).
About Custom House
The primary business of Custom House (http://www.customhousegroup.com/) is the provision of full administrative services to alternative investment and hedge funds. Established in Dublin in 1989, Custom House also operates through offices in Chicago, Malta and Singapore, with approximately 290 members of staff worldwide.
Custom House Administration & Corporate Services Limited (which will be renamed "Custom House Fund Services (Ireland) Ltd."), which achieved a SAS 70 Type II recognition last December, is authorised by the Irish Financial Regulator under Section 10 of the Investment Intermediaries Act 1995, which authorisation does not extend to the other Custom House offices.
About Equity Trust
Equity Trust is a leading provider of global trust, fiduciary and fund services to high-net-worth individuals, corporations and intermediaries all over the world. With approximately 1,000 employees and operating across 31 strategic locations, the company is at the forefront of business management and administration (http://www.equitytrust.com/).