Private equity firm Motive Partners has completed the acquisition of investment administrator Mobius for an undisclosed sum.

All required regulatory approvals have been received for the US-based firm’s acquisition of the administrator from Phoenix Equity Partners.

Mobius is a London-based investment administrator that serves the pensions and retirement market.

It has over £36bn of assets under administration, with its platform enabling clients to construct and provide bespoke investment solutions.

It uses open architecture and technology to enable access to a range of asset managers and investment opportunities, with its unitised funds bringing public and private assets together in a single structure supported by end-to-end investment administration, dealing, and reporting.

Following the acquisition, Motive will support the Mobius leadership team, bringing additional capital, sector expertise, and operational experience to support its next phase of growth and the continued development of its platform.

Ardea Partners, Addleshaw Goddard, and Squire Patton Boggs acted as advisers to Mobius and Phoenix Equity Partners.

Motive was advised on the transaction by Lazard, Oliver Wyman, Proskauer, and PwC.

“This is such an exciting moment for our business,” commented Mobius CEO, James Finch.

“In Motive we have a partner with deep expertise across financial technology, wealth and asset management.

“As a team, we can’t wait to continue developing our platform, broaden what we can offer clients and grow the business.”

Motive Partners founding partner, head of investments, Scott Kauffman, added: “Motive is delighted to complete this investment and formally welcome Mobius to our portfolio.

“Mobius has established a distinctive position in an increasingly important part of the financial services ecosystem: enabling pension schemes, wealth platforms and asset managers to bring more sophisticated investment solutions to market.

“We look forward to supporting James Finch and the team as they build on that foundation and pursue the significant growth opportunities in pensions and wealth.”

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