Waystone Group, a provider of institutional governance, risk and compliance services to the asset management industry, has acquired KB Associates, a professional services firm focused on the provision of management company, governance, regulatory and consulting services to the asset management industry.

KBA employs nearly 100 consultants and advises over 250 asset managers, supporting funds with assets totaling over $400 billion. As a result of the deal, Waystone’s assets under management will be raised to over $1.4 trillion.

“An ability to address complex regulatory and governance issues across multiple jurisdictions is increasingly important to our international client base,” said Mike Kirby, founder and managing principal of KBA. “Becoming a member of the Waystone Group, which has offices in fourteen locations across Europe, North America and Asia, allows us to deliver a single global solution.”

“KB Associates has been the pre-eminent provider of governance and compliance services in Ireland for almost 20 years,” added Derek Delaney, Waystone Global CEO. “We are very fortunate that KBA has chosen to join our institutional partnership and we are delighted to welcome all the key management and consulting staff of KBA. This agreement brings a depth of institutional UCITS expertise along with a talented and dedicated team of close to 100 new colleagues.”

KB Associates was advised on the transaction by A&L Goodbody and Squire Patton Boggs.