A Melbourne trade player has swooped on Australian Executor Trustees Corporate Trust, the former Insignia Financial unit that looks after about $20 billion and landed in US financiers’ hands after Phil Kingston’s Sargon Capital collapsed in 2020.
Street Talk can reveal that MSC Trustees, a trustee and fund administration provider owned by its founder Matthew Fletcher and management, settled the acquisition last week after nearly two years of negotiations with current investors – New Yorker Teddy Wasserman’s CloverHill Capital, Aussie investor Matthew Kibble and lender Vista Equity Partners. The vendors were advised by boutique corporate adviser Ankura Consulting.