TMF Group is acquiring Selectra Management Company, a regulated management company based in Luxembourg servicing both alternative investment funds (AIFs) and UCITS, from Farad Group.
Selectra, which was created in 2013 as part of the service delivery platform Farad Group, was a “strategic acquisition” for TMF Group.
The acquisition will help TMF Group drive fund activities growth in Luxembourg.
Frank Welman, regional head for TMF Group, said the acquisition is a “huge step forward” for the firm.
Welman commented: “Selectra is a well-established management company with the experience and the licenses to provide all the services that their clients – and our clients – require.”
Marco Cipolla, managing director of Selectra, said: "We are happy that Selectra has been chosen by TMF for its excellence in the market, and becoming part of TMF Group gives our clients access to the services and reach of a firm with a footprint in 80 countries worldwide.”
“Together, we will be best positioned to meet our clients’ needs and enable them to focus on their core investing activities while being able to rely fully on a first-class partner for their funds.”
Completion of the transaction is subject to regulatory approvals from the Commission de Surveillance du Secteur Financier.
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