Motive Companions (“Motive”), a specialist non-public fairness agency targeted on progress fairness and buyout investments in software program and knowledge providers corporations that serve the monetary providers trade (“monetary expertise”), has acquired the required regulatory approvals, and completes the sale of World Shares to J.P. Morgan. Motive invested in World Shares in August 2018, buying a ~40% stake within the enterprise.
World Shares, having grown to almost $200 billion in belongings underneath administration throughout over 800,000 company worker members, will now enter its subsequent part of progress underneath new possession, as a part of J.P. Morgan. As reported on the time of signing the acquisition, J.P. Morgan will search to combine World Shares into its Asset & Wealth Administration line of enterprise, remaining headquartered in Clonakilty, Eire. As a part of the closing, Motive Trade Accomplice Andy Stewart will step down as Govt Chairman and Motive Accomplice Neil Cochrane will step down from the Board of Administrators.
Andy Stewart, Trade Accomplice at Motive Companions and former Govt Chairman of World Shares, commented:
“We’re delighted with the expansion and growth of World Shares, and the affect this enterprise has had for its purchasers lately. I consider this to be an awesome instance of Eire’s distinctive monetary expertise expertise and atmosphere, and we’re grateful to Tim and the entire World Shares group for his or her partnership. It has been a privilege to work with them and we look ahead to the numerous future successes that lie forward for the World Shares group as a part of J.P. Morgan”.
Paschal Donohoe, Minister for Finance for Eire, commented:
“I welcome the completion of the acquisition of World Shares by J.P. Morgan. It is a stellar instance of the Eire Strategic Funding Fund, via its funding in Motive, serving to to develop and develop an Irish enterprise to safe this funding from a worldwide participant equivalent to J.P. Morgan. I additionally welcome the truth that the corporate will retain its headquarters in Clonakilty in the course of the subsequent part of its progress agenda, thereby offering future employment in monetary expertise within the area”.