Walkers Professional Services has entered into an agreement to acquire Value Partners, a Luxembourg professional services firm.

The move will give WPS a presence in another leading domicile for alternative investment funds.

Since its launch in 2012, Value Partners has advised private equity, real estate and private credit funds, banks and multinational companies. Today, the business has expanded to more than 150 professionals and serves clients across local and international markets.

In a statement, WPS said the acquisition marked “a major step forward in WPS’s plan to build a leading global professional services platform”.

Upon completion of the transaction, Value Partners will continue to operate under its existing brand as an affiliated company of WPS and Walkers, the international law firm.

WPS and Value Partners will together have 560 staff across ten alternative funds markets, including Bermuda, the Cayman Islands, London and Ireland alongside Luxembourg.

Steven Manning, chief executive officer of Walkers Professional Services, said: “Our clients have been clear that they want WPS alongside them in Luxembourg, and this acquisition is our response. Value Partners gives us an established base in the market and brings a highly respected firm into our European platform. It is a landmark moment for WPS and a strong foundation for what we can build together.”

Gregory Centurione, CEO of Value Partners, said: “Joining Walkers Professional Services and Walkers is a strategic milestone for Value Partners after 14 years of very strong growth in Luxembourg. This next chapter will give us the opportunity to benefit from a professional international platform and strengthen our position in the alternative fund industry while reinforcing our DNA as a quality-driven and people-centric organisation.”

Completion of the acquisition is subject to customary regulatory approvals. Relevant notifications and approval processes are under way with the appropriate regulatory authorities.