Private
equity firm
BV Investment Partners has signed an agreement to acquire
Butterfield Fulcrum and
FORS Limited in partnership with industry veterans
Glenn Henderson and Tim Calveley.  

FORS
Limited provides wealth management reporting and administrative services to
family offices, multi-family offices, trust companies and private clients. Butterfield
Fulcrum is a hedge fund administrator.

Butterfield
and FORS will be brought together into one parent company, headquartered in
Bermuda.  They will operate as separate businesses and continue to be run
by their current management teams. Terms of the deal were not disclosed.

Henderson
and Calveley will serve as chief executive officer and chief operating officer
of the parent company, respectively and maintain a significant equity stake in
the combined entity.   Henderson will also take on the role of chief
executive of Butterfield Fulcrum.  

The
deal reunites Henderson and Calveley with Butterfield  where they previously served as senior executives -
Henderson was chief executive and Calveley chief financial officer and chief
risk officer. In 2009, they acquired FORS where Calveley serves as chief
executive.  

The
transaction, subject to regulatory approval, is expected to close in the first
quarter.