Acclime acquires Melbourne's Polar 993

Acclime, a provider of corporate, governance, advisory and fund services across Asia Pacific and global markets, has signed an agreement to acquire the independent trustee and fund administration business from Melbourne.

The Hong Kong-based firm is acquiring Polar 993, an Australian financial services licensee providing trustee, responsible entity, custody, and compliance services for fund managers across private equity, venture capital and private credit.

Upon completion, Polar 993 will continue operating from its Melbourne office, with its leadership and team remaining in place delivering continuity of service to existing clients while broadening its reach across the region.

The firm was founded managing director Adam Lindell in 2020. Lindell was the founder and chief executive of Labassa Capital after a 12-year stint at Merricks Capital as its chief operating officer and head of structured credit.

Commenting, Lindell said the firm focuses on law, investment management and compliance, offering a "rare" end-to-end understanding of fund management process.

"We are a technology-led fund services platform providing modern, institutional-grade trustee and fund administration services to a growing market of sophisticated fund managers," Lindell said.

"Becoming part of Acclime gives us significant institutional backing and the scale to do more for our clients and staff here in Australia and abroad."

Meanwhile, Acclime group chief executive Izzy Silva said the acquisition supports the firm's expansion across the broader region.

"This strategic acquisition represents a powerful extension of Acclime's fund service capabilities in Australia and beyond," Silva said.

"Polar 993 not only brings us a great Australian platform and a high-quality client base, but a proven operating system capable of underpinning the technology layer of our global fund services business."

Acclime regional managing director for Australia and New Zealand Randolph van der Burgh added: "In addition to an excellent team, Polar 993 brings an advanced technology platform to our fund services business across Australia, New Zealand and beyond."

"They are a great fit for Acclime, and we are delighted to welcome Adam and his team to Acclime."

This acquisition follows Acclime's recent acquisitions of Bourke Group in Melbourne, Boutique Capital and Capital Architects in Sydney, and Rockburgh Fund Services in New Zealand, reinforcing the group's strategy of building a regional professional services platform.