Universal Investment Group is to acquire the European Fund Administration (EFA).
The transaction is subject to regulatory approval by the Luxembourg financial authority CSSF and is expected to be completed in the second half of 2022.
Founded in 1996, EFA provides fund administration services, private asset services, and front, middle, and back-office services to banks, asset managers, insurance firms, wealth managers, family offices, and institutional investors.
The Universal Investment Group is a European fund service platform with offices in Frankfurt, Luxembourg, Dublin, London, Hamburg and Krakow.
The pairing of both organisations aims to broaden the combined commercial and operational capabilities across European markets.
Both companies have dedicated business models focused on asset services and share the idea of an open architecture platform for the financial services industry.
EFA will remain its own business entity as part of the Universal Investment Group and under the Universal Investment brand.
Universal Investment Luxembourg will continue to operate independently of EFA as the group’s international third-party ManCo and under the Alternative Investment Fund Managers Directive.
EFA shareholders include Banque de Luxembourg, Banque et Caisse d'Épargne de l'État, Oddo BHF, Quintet Private Bank (Europe) S.A..
Fernand Reiners, chairman of EFA’s board of directors, says: "EFA's shareholders see similar foundation stories and ambitions in EFA and Universal Investment Group. Both were created by financial institutions to pool operational skills and investment. Two success stories, we are confident will continue by entrusting EFA to Universal Investment Group. As strategic clients, the current shareholders are committed to contribute to the long-term success of EFA as a member of Universal Investment Group.”
Michael Reinhard, CEO of Universal Investment Group, comments: "EFA will be a perfect fit for Universal Investment and our growth story. We have been business partners with EFA for several years and are impressed by the commitment and skill of their people, the quality of their services and its success in becoming ‘more than a fund company’.
“Partnering with EFA is another milestone not only to reach our objective of becoming the leading European investor services platform and super ManCo but also regarding our ambition to provide customers the full investor services spectrum.”
