FAB acquires 100% of Bahrain fund administrator Yasira

Abu Dhabi-based First Abu Dhabi Bank (FAB) has completed the acquisition of 100% ownership of Yasira Financial Services, a leading Bahrain-based fund administration and trust services platform. The acquisition, announced on November 9, does not yet disclose the deal's value, but FAB will integrate Yasira into its Securities Services division.

This move combines Yasira's fund administration with FAB's custody, cash management, and foreign exchange services across the Middle East, North Africa, South and Southeast Asia (MENASSA) region. FAB's Group Head of Investment Banking & Markets, Pantelis Lekkas, highlighted the increasing demand for integrated servicing capabilities as the regional funds industry expands.

He emphasized that the focus will be on maintaining client continuity while investing in the platform, talent, and capabilities to support growth. Together, FAB and Yasira aim to provide greater regional scale and local market expertise to fund managers operating in complex investment structures and jurisdictions. Yasira manages a wide range of assets, including public assets, private equity, venture capital, and real estate, across multiple entities, structures, and jurisdictions.

The business, previously known as Crestbridge Bahrain, was rebranded as Yasira in late 2023 and manages over $7 billion in assets. The acquisition reflects the UAE's financial sector's trend of expanding into new businesses and markets, with FAB reportedly interested in a majority stake in an Indian private lender.