CSC has completed the acquisition of TCS-Groep, a Netherlands-based service provider of alternative investment funds, expanding its fund services capabilities in Europe.
The acquisition was first announced on 4 November 2019 and received regulatory approval on 31 March this year.
As part of the acquisition, Liam McHugh, managing director, will oversee CSC’s fund administration business in Europe, while Oleg Yablonovskiy, takes on the role of managing director in the US, and Agnes Chen will serve as managing director in Asia Pacific.
Additionally, TCS’s 26 staff across two offices will join CSC.
TCS offers fund administration and depositary services for alternative asset managers with a focus on real estate, private equity, private debt, and social impact funds.
The acquisition follows several hires and investments CSC recently made, including the organic recruitment and set-up of its fund administration business in the US and Asia Pacific markets.
John Hebert, senior vice president of CSC, said: "Beyond extending our capabilities in Europe, this acquisition reinforces our competitive advantage of being a privately held and independent service provider.”
Birgitte van den Broek, CEO of TCS-Groep, added: "With the merger complete, together we’ll further accelerate our success in building the highest quality fund services business in the Netherlands and beyond. Working alongside the CSC team up until the moment of the merger has further strengthened my belief that CSC and TCS are the right match for this business.”
