Harneys announces completion of sale of Harneys Fiduciary
Harneys is pleased to announce the completion of the sale of its fiduciary business, Harneys Fiduciary, to Hillhouse Investment (“Hillhouse”), a leading global private equity firm. The sale will enable Harneys to invest in the strategic direction of the law firm by pursuing growth in new jurisdictions, products and services, with a focus on innovation and technology.
Harneys Fiduciary, working with its new partner Hillhouse, will continue to deliver its high standard of service while providing innovative new offerings and agile solutions. The acquisition bolsters Harneys Fiduciary’s strategic growth plans across its global network with the support of Hillhouse’s expertise and resources. The business will continue to be led by Chief Executive Officer Ross Munro and Chief Commercial Officer Pia Buchi.
William Peake, Global Managing Partner at Harneys, commented: “This transaction marks an exciting new chapter for Harneys law firm, 64 years after it was formed. In that time we have always remained at the forefront of innovation and we will continue to do so. A unique feature of the sale is the creation of the Harneys Accelerator Fund, which is funded by a proportion of the sale proceeds and will be the foundation of our dynamic ambitions. We look forward to working alongside Harneys Fiduciary to build on our combined expertise and shared vision for the future.”
Ross Munro, CEO of Harneys Fiduciary, added: "Partnering with Hillhouse presents an incredible opportunity for us to take our business to the next level. As Harneys Fiduciary approaches its 50th anniversary, it is important to leverage our heritage as we move forward. We have built an enduring legacy with Harneys law firm, and we are united in our shared commitment toward putting our clients at the forefront of everything we do as we embark on this new chapter."
Hillhouse is focused on building and investing in high-quality companies across business services, healthcare, energy transition, industrials, and consumer sectors to achieve long-term sustainable growth. Sean Carney, Head of Global Investment at Hillhouse, stated: "Our investment in Harneys Fiduciary underscores our confidence in their leadership team and their commitment to providing top-tier services to their global clientele. We look forward to supporting the company’s continued growth and innovation." Hillhouse’s closing of the Harneys transaction was completed following approval from CFIUS, within the initial 45-day review period, alongside other applicable regulators.
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