New Mountain Capital affiliates agree minority investment in Appleby Global Group
Appleby announced minority backing for its management-services and corporate-services businesses, with its law firms remaining under local partner control.
Affiliates of New Mountain Capital will hold a minority interest in a newly established Cayman Islands company that indirectly owns Appleby Global Group. The group’s managed-services organization supports Appleby law firms, while Appleby Global Services administers corporate structures; the law firms themselves remain owned and controlled by local Appleby partners.
Announced on September 14, the investment supports expansion into jurisdictions and service lines, technology, talent and acquisitions. The existing management team will continue to lead the business, with Malcolm Moller due to become group chief executive following completion. Financial terms were not disclosed.
Use of funds
Expand into jurisdictions and service lines
Invest in technology and talent
Pursue acquisitions