GOT YOUR BACK acquires Nordic Depositary Services
GOT YOUR BACK, has today entered into an agreement to acquire Nordic Depositary Services, a Nordic depositary for funds which have assets under management of approximately SEK 60 billion.
Nordic Depositary Services is active as a depositary for prominent real estate and infrastructure funds in Sweden and Denmark and has since 2014 been led by Peter Wallqvist, who has extensive experience in the real estate industry.
Peter Wallqvist, managing director and founder of Nordic Depositary Services:
"I look forward to continuing to work with my clients and develop depositary services for the real estate industry in the Nordics, together with all the new colleagues at GOT YOUR BACK. The role as depositary increasingly requires automation and know-how that is much more efficiently attained in a larger organization. On a more personal level, I am impressed by GOT YOUR BACK’s development and company culture, characterized by empathy and grit, values that correspond well with how I view entrepreneurship."
Joakim Sjöberg, managing director of GotYourBack Depositary Services AB:
”Peter has built a first-rate business with some of the Nordic region’s leading real estate fund managers as clients. Through the acquisition, GOT YOUR BACK strengthens its position as a leading non-bank depositary for alternative investment funds. We believe that Peter’s long experience and deep expertise in real estate will be very valuable to the entire Group.”
The acquisition is expected to close in the first quarter of 2024 and is subject to customary regulatory approvals in Sweden and Denmark.