Nigeria’s Verod Capital in Union Trustees Limited Management Buyout

Verod Capital has along with the management team of Union Trustees Limited acquired Union Trustees Limited. This is the third investment in Verod Capital’s Fund II. The company, a fully owned subsidiary of Union Bank of Nigeria is duly licensed and registered by the Securities and Exchange Commission as Trustees and Fund and Portfolio Managers. Union Trustees Limited, based in Lagos Nigeria, is well known as one of the top corporate Trustees’ and Fund Managers in the industry with an established reputation as a market leader.

“We are delighted to be partnering with Union Trustees Limited’s management team in this rapidly growing industry,” said Eric Idiahi, the Deputy Managing Director of Verod Capital. “Their experience and reputation make them one of the leading Trust service companies in Nigeria.”

Union Trustees Limited main lines of business operations are trusteeship services, nominee services and fund/portfolio management. Clients include state governments, parastatals, corporations and individuals and a strong management team with over 81 years of combined financial services experience.

“Our commitment to provide our customers with premium solutions remains paramount,” said Mrs Olufunke Aiyepola, CEO of Union Trustees Limited. “We are very excited to have Verod Capital join us in the next phase of our growth as we continue to be the gold standard in our industry”.

The partnership between Union Trustees Limited and Verod Capital, including one of Verod’s European investors that co-invested in the deal, will allow for services to be delivered through highly skilled personnel and world class technology. Additionally through extensive investment in technology, international best practices and expertise will be used to better serve clients around the world.