TMF Group, a provider of critical compliance and administrative services, has completed the acquisition of Selectra Management Company from Farad Group to enhance its fund services offering.
Following the announcement last year, TMF Group has been granted permission for the acquisition by Commission de Surveillance du Secteur Financier, the Luxembourg regulator authority.
Created in 2013, as part of the service delivery platform Farad Group, Selectra is a regulated business based in Luxembourg servicing both alternative investment funds (AIFs) and UCITS.
Selectra offers a range of services acting as an independent professional partner for the creation, management and distribution of AIFs and UCITS for European and non-European promoters.
Frank Welman, regional head for TMF Group, says Selectra’s service offering is “a key component of our fund strategy and enables us to be a full-service provider”.
Marco Cipolla, managing director of Selectra, adds: “We are delighted that Commission de Surveillance du Secteur Financier gave the green light for the completion of the acquisition. Our clients will now have access to the services and reach of TMF Group, a firm with a footprint in 80 plus countries worldwide.”
After seven years of growth, Marco Caldana, chairman and founder of Selectra, states: “We are delighted to be part of TMF Group, a strategic partner that will shape Selectra’s future growth, by supporting its collaborators and clients.”
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