The Prescient Group has acquired Obsidian Fund Services in Guernsey, strengthening its global fund administration offering with a particular focus on private assets.

Effective February 1, Obsidian has been integrated into Prescient’s fund services division, Prescient Fund Services.

The full Obsidian team, led by CEO Jody Newark, will join the broader Prescient business as part of the transition.

The Guernsey-based firm provides a range of fund administration services, including fund accounting, compliance, financial reporting, governance and investor services.

It also supports listed funds and has experience working across both closed-ended and open-ended fund structures.

Following the acquisition, the Guernsey team will continue to deliver full-service fund administration, supporting private assets strategies such as private equity, infrastructure, private credit and real estate.

The offering also includes assistance with establishing regulated investment management entities and protected cell structures.

“Guernsey is a leading jurisdiction for private equity and other private assets funds, and it makes enormous sense for Prescient Fund Services to have a presence on the island, working with an established and respected team like that at Obsidian,” said Craig Mockford, CEO of Prescient Fund Services.

“We are confident that this partnership will bring new opportunities for Prescient Fund Services and our wider client base as we continue to build on our global private equity capabilities.”

Jody Newark, CEO of Obsidian, said the move would enhance service delivery for clients.

“This is an exciting new development for our clients as we join a larger fund administration group which shares our values. We look forward to continuing to deliver the same high level of service to our customers under the Prescient brand.”

Prescient Fund Services, part of South Africa’s Prescient Group, administers $114 billion in client assets as of December 31, 2025. The business established its European presence in 2008 with expansion into Ireland, providing fund administration and management company services to both South African and international clients.

The acquisition forms part of Prescient Fund Services’ broader strategy to expand its regulatory reach and enhance its service offering for a growing base of global fund management clients.