Carey Olsen advises Opera Group Limited on acquisition of HFL Limited

The acquisition is subject to regulatory approval, after which Opera's combined assets under administration will be more than US$37 billion.

HFL is Opera's third acquisition, joining Oak Group and Amber Trust Ltd. under one portfolio. The acquisition is part of Project Overture, Opera's five-year strategic plan to simplify work with smarter technology, deliver sustainable organic growth by increasing market visibility, and expand globally through targeted acquisitions.

Opera is majority backed by Pula, the family office of Steven Lansdown CBE, co-founder of Hargreaves Lansdown and like-minded shareholders including Sealyham Investments Ltd, family office of Tom Scott.

The Carey Olsen Guernsey corporate team acting as lead counsel to Opera. It was headed by partner Tom Carey and senior associate Melissa Wilkins who were assisted by counsel Julie Currie and Carly Parrott, and associates Kim Courtney and Tabitha Lepp.

Partner Tom Carey commented: "We were delighted to act for Opera in their acquisition of HFL, a highly regarded business in the market. The deal ideally positions Opera for its next phase of innovation and sustainable growth and demonstrates the strength of Guernsey as a jurisdiction of choice for fund administration, corporate and private client services. We look forward to supporting Kim Sgarlata and the team at Opera as they embark on their next stage of global expansion."