Fund administration service provider Universal Investment Group has secured a significant investment from Canada Pension Plan Investment Board (CPP Investments), alongside existing lead investor Montagu.
As part of a new partnership, CPP Investments and Montagu will support Universal Investment Group’s geographic expansion, particularly in the North American market, as well as its ambition to become a leading global fund service.
Universal Investment serves both institutional investors and asset managers and is active across the three largest European fund domiciles: Germany, Ireland, and Luxembourg.
To strengthen its international growth, Universal Investment will acquire Luxembourg-based European Fund Administration (EFA), a provider of fund administration services, private asset services, and front-, middle-, and back-office services.
Montagu made its first investment in Universal Investment Group in 2017. The group currently serves more than 470 clients, and has €760 billion in assets under administration.
Michael Reinhard, CEO of Universal Investment Group, says: “Our development into one of the fastest growing European fund service platforms was a decisive factor for CPP Investments to invest.
“Backed by the great partnership with Montagu we have leveraged our full potential and have become one of the few players active in Germany, Ireland and Luxembourg, offering not only ManCo services but also fund administration and distribution services.”
Daniel Fischer, director at Montagu, adds: “Our relationship with Universal Investment started several years before we completed the acquisition in 2017, and we are pleased to be able to continue the partnership while delivering a strong return for our investors.
“Universal Investment has performed strongly over the last five years, delivering strong growth in Germany while accelerating its expansion in Luxembourg and entering a new strategic market in Ireland. We have every reason to believe the business will go from strength to strength as it continues to expand its offering across products, asset classes and jurisdictions.”
