South African finance giant buys company on tiny European island
The Prescient Group has acquired Obsidian Fund Services Limited in Guernsey to strengthen its global fund services offering for its South African and international clients.
The deal became effective on 1 February 2026 and will see Obsidian become part of Prescient Fund Services, which already operates in South Africa and Ireland.
The existing Obsidian team will be integrated into the Prescient business.
Founded in Cape Town in 1998, Prescient is one of South Africa’s largest fund managers. Prescient Fund Services currently administers $114 billion (roughly R1.9 trillion) in client assets as of 31 December 2025.
The group entered Europe in 2008 through its Irish operations and has since expanded its cross-border fund servicing capabilities for South African and international clients.
Guernsey is one of the Channel Islands on the English coast, and is a self-governing British Crown dependency. It is widely considered a tax haven.
Obsidian offers a host of fund administration services from Guernsey, including fund accounting, compliance, financial reporting, governance, and investor services.
The company has experience working in both listed and unlisted structures, as well as in closed-ended and open-ended funds.
It also supports the creation of regulated investment management entities and protected cell structures.
Prescient said that the deal expands its reach and enhances its ability to deliver comprehensive fund services to its clients across multiple jurisdictions.
It noted that Guernsey is a well-established jurisdiction for private equity and other private asset funds, and remains a preferred domicile for investors seeking strong regulatory oversight and global credibility.
Craig Mockford, CEO of Prescient Fund Services, said the move expands Prescient’s long-standing international expansion strategy while remaining anchored to enhancing its offering to clients.
“Guernsey is a leading jurisdiction for private equity and other private assets funds. It makes strategic sense for Prescient Fund Services to establish a presence on the island through an experienced and respected team like Obsidian,” said Mockford.
“This allows us to better support South African and international clients who require sophisticated offshore fund administration solutions.”
Local and international upside
For South African investors and managers evaluating offshore options, Prescient said the acquisition offers the benefit of dealing with a local company that understands domestic regulation while providing access to established international fund jurisdictions.
Jody Newark, CEO of Obsidian, said that joining Prescient marks an important step for the Guernsey business and its clients.
“This is an exciting new chapter for our clients as we become part of a larger fund administration group that shares our values,” said Newark.
“We look forward to continuing to deliver the same high level of service under the Prescient Fund Services brand,” she said.
The group said that the acquisition of Obsidian forms part of Prescient Fund Services’ broader strategy to extend the range and regulatory scope of its offshore fund administration offering.
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