IQ-EQ acquires the fund administrator South Watch

The Astorg Portfolio Company IQ-EQ bought South Watch from the majority shareholders Everlane Equity Partners and main employees of the employees.

South Watch specializes in the fund management, the outsourced CFO services and the tax preparation for hedge fund managers in the USA and the Cayman Islands.

This acquisition is intended to improve the presence of IQ-EQ in the Boston region.

The renaming the South Watch to IQ-EQ should begin immediately as part of the integration process.

Mark Pesco, CEO from IQ-EQ Group, said: “We are pleased to welcome the South Watch team in the group. Your reputation and expertise in the management of Hedge Fund make you perfect complement our US company and improve our comprehensive customer offer.

“The IQ EQ team in the USA has developed on over 630 experts who serve a growing customer base in 14 offices at the national level.”

South Watch, who was founded in 2016 by Paul Timmins and David Loescher, saw Kirby Richards in 2017 as a Managing partner.

The management team, which includes Timmins, Richards and Loescher, remains in place.

Timmins is now becoming a product for liquid funds, while Richards and Loescher serve as co-heads of the fund management for liquid funds.

Timmins said: “This business is an exciting new chapter for the entire South Watch team and is proof of the strong business that we have built together.

“We are deeply grateful to every customer, business partner and employees who have shaped our success on the way.”

In October 2024, IQ-EQ received approval of being able to offer company services on the Abu Dhabi Global Market (ADGM).

This is followed by the introduction of his office in Abu Dhabi and the acquisition of a fund service license in 2023.

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