MoneyMate acquired for over €25m eyes growth

MoneyMate — best known as a supplier of market data to domestic and international funds — has been bought out by a US funds group for just over €25m to tap the growing demand for regulatory services around the world.

As part of the acquisition, the management team of MoneyMate, led by long-serving chief executive Paul Fawsitt, has invested in a new international group of companies called Compliance Solutions Strategies, which has been set up by US-based CIP Capital.

Mr Fawsitt said that, in recent years, MoneyMate had been doing more and more work for funds and insurance funds which face what he described as a “tsunami” of regulations to comply with EU law and Central Bank rules.