Beneficient to acquire Mercantile Bank International Corp. for $1.5 million to expand the range of services
Beneficient to acquire Mercantile Bank International Corp. for $1.5 million to expand the range of services
12/05/24, 10:01 PM
Location
Industry
banking
finance
financial services
Beneficient Company, a provider of liquidity solutions and services for alternative assets, has entered into an agreement to acquire Mercantile Bank International Corp., a Puerto Rico-based financial entity, for $1.5 million. The acquisition is aimed at expanding Beneficient's range of services, including custody and fee-based services for alternative assets. It is expected to enhance Beneficient's existing offerings and introduce new services such as the issuance of depositary receipts for foreign investments.
Company Info
Location
Dallas, Texas, United States
Company info
Beneficient Company is a provider of liquidity solutions and services for alternative assets. It offers custody and fee-based services for alternative assets, aiming to democratize access to the alternative asset market for mid-to-high net worth individuals, small-to-midsized institutions, and General Partners. The company's online tools, AltQuote™ and AltAccess®, provide customers with rapid exit options and proposals for their alternative assets.