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First Abu Dhabi Bank (FAB) has acquired 100% of Yasira Financial Services, a Bahrain-based fund administration and trust services platform, the bank announced on 9 November. Neither side has disclosed the price. FAB says it will rebrand Yasira and fold it into its Securities Services business.
The announcement says Yasira’s platform covers the full life of a private-market fund, from investor commitments and capital calls to reporting and distributions. FAB says it will combine that with its custody, cash management and foreign exchange services, to offer asset managers and institutional investors one service across the investment lifecycle. FAB says Yasira’s platform serves funds in public assets, private equity, venture capital and real estate across several structures and jurisdictions.
Pantelis (Linos) Lekkas, FAB’s group head of investment banking and markets, said,
“The regional funds industry continues to grow in scale and sophistication,”
FAB says its priority is continuity for Yasira’s clients while it invests in the platform, talent and capabilities.
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What is known about Yasira
Yasira was formerly Crestbridge Bahrain and took its current name in late 2023, when it managed more than $7 billion in assets. No current figure has been disclosed. The announcement gives no client count or staff numbers.
The announcement describes the deal as done, with FAB saying it has acquired the company, but gives no completion date and doesn’t mention regulatory approvals, including from the Central Bank of Bahrain.
FAQs
What did FAB acquire?
100% of Yasira Financial Services, a Bahrain-based fund administration and trust services platform.
What will happen to Yasira?
FAB says it will be rebranded and integrated into FAB’s Securities Services business, alongside custody, cash management and foreign exchange.
What did Yasira do before?
It operated as Crestbridge Bahrain until late 2023. At that rebrand it managed more than $7 billion in assets.
Editor’s Take: The price, Yasira’s assets under administration today and the Central Bank of Bahrain’s approval are the three figures that would tell readers how large this deal is, and none has been published. FAB’s stated aim is to sell fund administration, custody and foreign exchange as one service to asset managers. That depends on how many of Yasira’s private-market clients stay through a rebrand.