Fund administrator TMF Group acquired U.S. fund administration firm Venture Back Office on Thursday, a TMF spokesman said.
Terms of the deal were not disclosed. TMF Group’s assets under administration have increased to €150 billion ($176.3 billion) following completion of the deal, while the firm also expanded its access into North America.
Venture Back Office provides administration services to private equity, real assets and credit funds and has $20 billion in assets under administration.
“The U.S. market is particularly important for the group as it is home to 60% of the world’s private equity market,” Jan Willem van Drimmelen, head of North America at TMF, said in a news release.
Source: Pensions & Investments
By Paulina Pielichata
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.