Allen & Overy advised Estera, a provider of corporate, trust, fund and accounting services, on its acquisition of Allegro, a Luxembourg-b ased third-party Management Company with circa EUR8.2 billion in AUM.

The Allen & Overy team was led by Luxembourg-based corporate partner Fabian Beullekens, counsel Jacques Graas and senior associates Clemence Colson and Matthieu de Donder. Founded ten years ago, Allegro is a licensed and regulated fund management company which provides comprehensive services in the alternative asset space.

Through this acquisition, Estera will supplement its existing multi-jurisdictional fund services arm, which includes fund administration and related services. CEO at Estera, Farah Ballands, commented on the transaction in a press release published on 29 September 2018: "This is a very exciting acquisition for Estera as Allegro's business is highly complementary to our existing offering. There is tremendous cultural compatibility between our firms, with each of us valuing the quality of our services and commitment to clients, staff and other stakeholders. This sound, strategic acquisition enables us to provide our clients with investment fund services in Luxembourg and adds depth and breadth to our existing funds offering. It will be business as usual for both Allegro's employees and clients.This transaction is an investment in, and validation of, Allegro. Our primary objective is to ensure that we retain the Allegro spirit and culture that resonates so well with our own and has served its client base so well over the last ten years."

Agreed on 20 September 2018, the deal is subject to regulatory approval in Luxembourg. Alongside Allen & Overy, advisers involved in this transaction included, for Estera: Travers Smith LLP, Duff & Phelps Limited and Deloitte Luxembourg, and for Allegro: Clifford Chance.