October 25, 2020

Beacon Group acquisition


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Cayman-based Caledonian Global Financial Services has announced the acquisition of the Beacon Group of companies, which is based in the British Virgin Islands and comprises Beacon Capital Management, Beacon Fund Advisors and Beacon Fund Administrators.

Beacon is a provider of fiduciary services, fund management and administration, and other investment services in both the BVI and Cape Town, South Africa. While regulatory approvals are pending, this transaction will serve to reinforce Caledonian’s international presence.

Caledonian Fund Services’ assets under administration will increase to USD5bn, 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.

Sims says the combination of the two 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,” says Kobi Dorenbush chief executive of Caledonian Global Financial Services.


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