Prescient Group, the South African finance company, has acquired Obsidian Fund Services Limited in Guernsey to strengthen its global fund services offering for South African and international clients. The transaction, effective from 1 February 2026, sees Obsidian become part of Prescient Fund Services, which already operates in South Africa and Ireland.

Business Tech reported that 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, with Prescient Fund Services administering $114 billion (€104.5 billion) 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. Guernsey, a self-governing British Crown dependency in the Channel Islands, is widely considered a leading jurisdiction for private equity and private asset funds.

Obsidian offers fund administration services from Guernsey, including fund accounting, compliance, financial reporting, governance, and investor services. The company has experience in both listed and unlisted structures, as well as closed-ended and open-ended funds.

Craig Mockford, chief executive of Prescient Fund Services, said: "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. This allows us to better support South African and international clients who require sophisticated offshore fund administration solutions."

Jody Newark, chief executive of Obsidian, said: "This is an exciting new chapter for our clients as we become part of a larger fund administration group that shares our values. We look forward to continuing to deliver the same high level of service under the Prescient Fund Services brand."

Read how Prescient's Guernsey acquisition strengthens its European fund services platform and international capabilities.