TMF Group, which provides services to private equity funds and other businesses, is to acquire a management company business based in Luxembourg in a bid to expand fund administration services.
The firm is buying Selectra Management Company from Farad Group. The cost was not disclosed.
Selectra is a regulated management company based in Luxembourg and services alternative investment funds and Ucits funds, supporting fund launches and distribution.
Frank Welman, regional head for TMF Group, said Selectra is a well-established management company and the acquisition, which is subject to regulatory approval, would be a “huge step forwards for our organisation”.
TMF Group said it provides services to over half of the top 300 largest private equity firms and also to some members of the FTSE 100.
© 2020 funds europe