CVC Capital-backed TMF Group acquire fund administration provider PartnersAdmin

• As a result of the acquisition, TMF Group will now administer more than $215 billion worth of assets on behalf of its global fund manager client base
• PartnersAdmin was founded in 2008
• Based in Luxembourg, CVC invests in businesses across Europe, the Americas and Asia

TMF Group, a portfolio company of CVC Capital Partners, has acquired Carlsbad, California-based PartnersAdmin, a fund administration provider. No financial terms were disclosed.

Headquartered in Amsterdam, TMF is a provider of global administrative services, including fund accounting and administration.

As a result of the acquisition, TMF Group will now administer more than $215 billion worth of assets on behalf of its global fund manager client base.

PartnersAdmin was founded in 2008.

On the deal, Lisa Wilcox, TMF Group’s North America market leader, said in a statement, “This deal reflects how attractive the North American market is due to its concentration of private equity firms and ease of doing business, as reported in our Global Business Complexity Index. This is our second US acquisition in the fund administration space and besides bolstering our presence in North America and complementing our existing footprint, it will expand our offering to our national and international clients. We are looking forward to welcoming everyone from PartnersAdmin into TMF Group.”

The sellers were assisted by Paddock Capital Markets (M&A advisor) and Paul Hastings (legal advisor) for this transaction. TMF Group was assisted by Mayer Brown (legal advisor) and KPMG (financial and tax due diligence) for this transaction.

Based in Luxembourg, CVC was founded in 1981. The private equity firm invests in businesses across Europe, the Americas, and Asia.