Grand Cayman, Cayman Islands (Nov 4, 2011) Caledonian Global Financial Services Inc. (CGFSI) announces it's intention to acquire the Beacon Group of Companies – Beacon Capital Management Ltd, Beacon Fund Advisors Ltd. and Beacon Fund Administrators (Pty) Ltd. Beacon is a leading provider of fiduciary services, fund management and administration, and other investment services in the British Virgin Islands. While regulatory approvals are pending, this transaction will serve to reinforce Caledonian’s international presence.
Once the transaction has been approved, Caledonian Fund Services AUA will increase to $5 Billion transforming the Group into one of the strongest administrators in the jurisdictions that they operate. Caledonian Fiduciary Services footprint will also be strengthened through the addition of these two new offices.
Beacon’s founder, David Sims, has 20 years of experience in fund administration and will assume the Global Managing Director role for the Caledonian Funds Group, but no other changes will be made through the organisational structure at this time.
Mr. Sims expressed excitement about becoming a part of the Caledonian team stating that the combination of both companies gives the Group the opportunity to leverage resources and reach a larger market. Beacon employees will join Caledonian, but will continue to work in the BVI and Cape Town offices to service clients.
“Our vision for Caledonian is bold; it is to diversify our financial offerings through pioneering services and technology. Beacon’s team and services perfectly fit within our mission and we are now uniquely positioned,” concluded Kobi Dorenbush CEO of Caledonian Global Financial Services.
About Caledonian Global Financial Services
Caledonian was founded 40 years ago in the Cayman Islands and is headed by joint CEO’s Kobi Dorenbush and Barry McQuain. With assets under administration and management of over $16billion, Caledonian is a global financial services firm specialising in Banking, Fund Administration, Captive Insurance Management, Fiduciary, Trust and Director Services and has offices in the Cayman Islands , British Virgin Islands, Isle of Man, New York, and Orlando.
Caledonian Global Financial Service’s operating companies are, where appropriate, licensed and regulated in the jurisdictions in which they operate.