International trade finance firm Blackstar Capital has acquired a majority stake in Berkeley Hanover, an investment management firms that operates trade and debtor finance funds in the Cayman Islands and Luxembourg.

Berkeley Hanover “manages, markets and distributes a unique line of non-correlated ‘all weather’ mutual fund products that derives its returns from a managed pool of accounts receivables, or secured lending activities”, according to its website. It encompasses trade finance expertise, which includes reverse factoring and purchase order finance.

“Both the Ardent and Aventor range of funds provide investors with a unique opportunity to achieve quality returns and the successful diversification of risk,” the website reads.

Mark Stephens, CEO of Blackstar, comments on the acquisition: “With both companies operating in different segments of the global trade finance market, this transaction broadens our scope significantly whilst delivering operational efficiencies for both groups.”

“We see managed receivables as a target growth sector for Blackstar Capital and for our investors, so to acquire a stake in one of the market leaders is very exciting for us and we see a huge future expansion potential for our business,” he continues.