Sadis & Goldberg represented Socium Funds Services in its sale of its US business to Suntera Global

Sadis & Goldberg (“Sadis”) represented Socium Funds Services (“Socium”) in its sale of its US business to Suntera Global (“Suntera”). For Suntera, this was a key strategic move as the firm continues to grow and expand its international footprint into new global markets, especially in the USA.

The acquisition of Socium, which requires no regulatory approval and completes with immediate effect, will strengthen Suntera Global’s offering for fund managers and provide the group with an important US operation for the first time, adding three key North American locations to its international footprint.

Founded in 2016, Socium has its headquarters in New Jersey, and with additional offices in California and Arizona, provides a pan-US proposition. A specialist provider of high-quality and boutique fund administration services to private equity, private credit, venture capital and real estate focused fund managers, Socium has deep sector experience in offering a full suite of solutions including accounting and administration, investor services, reporting services, treasury, tax, and regulatory and compliance services.

Socium differentiates itself in the highly competitive fund market by being more than just a service provider. With their entrepreneurial approach, they strive to build long term partnerships with each of their clients and provide them with 24/7/365 live data access through their leading technology platform.

The Socium team will join the Suntera Global team immediately and will become “Socium, a Suntera Global Company”.

In joining Suntera Global, Socium will provide on-the-ground expertise and help raise Suntera Global’s profile in the strategically important US market, complementing the firm’s existing global funds expertise and its international network across the Bahamas, Cayman Islands, Hong Kong, Isle of Man, Jersey, Luxembourg, Malta and Switzerland.

“We at Sadis are proud to have been able to assist Michael Von Bevern and the Socium team with this transaction and know they will provide great value to and help Suntera achieve its goals as it expands in the US. Our team worked tirelessly on structuring this transaction from a diligence, business and regulatory perspective and I was especially impressed by our tax and structuring groups as they helped the client with guidance on equity rollovers. We are extremely proud to have represented Socium and believe they have found a great partner in Suntera,” said Paul Marino, head of Sadis’ Private Equity and M&A group. Marino continued, “Our team has such great experience in fin tech transactions (as well traditional transactions), and Bob and Seth are true thought leaders in structuring and it really showed in this transaction; we are lucky to have them”.

The Sadis team consisted of Bob Cromwell, Seth Lebowitz, Edward McNellis & Paul J. Marino