TMF Group expands into Latin America with fund administration acquisition
11 January 2022 Brazil
Image: lazyllama/adobe.stock.com
TMF Group has acquired Paraty Capital, a Brazilian fund administration platform specialising in private equity, infrastructure, venture capital and private debt funds.
As a provider of independent third-party fund administration services, Paraty Capital has more than BRL$15 billion in assets under management.
Under the terms of the acquisition, TMF Group will provide administration services to regulated Brazilian funds, as well as administer more than €160 billion of assets on behalf of fund manager clients across several jurisdictions, including Brazil, Cayman Islands, Guernsey, Luxembourg, Singapore, Hong Kong, China and the US.
The acquisition is part of TMF Group’s strategy to expand its global fund services offering, particularly in the Americas, having most recently acquired fund business Venture Back Office last year.
Commenting on the group’s regional expansion, Michael Seligman, head of Iberia and Latin America, explains: “The Latin American market is particularly important for the group due to its strong links to the US market and its global growth potential.
“Paraty’s local expertise, as well as our global reach and increased presence in the US, looks set to make this region a key area for significant growth in 2022.”
Andrew O’Shea, TMF Group’s global head of fund services, adds: “TMF Group is the clear market leader in supporting general partners across Latin America. The addition of the Paraty team strengthens our offering and underlines our commitment to the region. We can now offer a complete administration solution to general partners.
“Brazil is an exciting market for international investors. The combination of our strong organic growth and acquisitions made in 2021 also positions us as a dominant global player in fund administration.”
As a provider of independent third-party fund administration services, Paraty Capital has more than BRL$15 billion in assets under management.
Under the terms of the acquisition, TMF Group will provide administration services to regulated Brazilian funds, as well as administer more than €160 billion of assets on behalf of fund manager clients across several jurisdictions, including Brazil, Cayman Islands, Guernsey, Luxembourg, Singapore, Hong Kong, China and the US.
The acquisition is part of TMF Group’s strategy to expand its global fund services offering, particularly in the Americas, having most recently acquired fund business Venture Back Office last year.
Commenting on the group’s regional expansion, Michael Seligman, head of Iberia and Latin America, explains: “The Latin American market is particularly important for the group due to its strong links to the US market and its global growth potential.
“Paraty’s local expertise, as well as our global reach and increased presence in the US, looks set to make this region a key area for significant growth in 2022.”
Andrew O’Shea, TMF Group’s global head of fund services, adds: “TMF Group is the clear market leader in supporting general partners across Latin America. The addition of the Paraty team strengthens our offering and underlines our commitment to the region. We can now offer a complete administration solution to general partners.
“Brazil is an exciting market for international investors. The combination of our strong organic growth and acquisitions made in 2021 also positions us as a dominant global player in fund administration.”
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