TMF Group, a leading provider of critical compliance and administrative services, has today completed the acquisition of Selectra Management Company from Farad Group, following the permission granted by Commission de Surveillance du Secteur Financier, the Luxembourg regulator authority. This strategic acquisition will extend and enhance TMF Group's fund services offering.
Selectra Management Company ("Selectra") is a regulated business based in Luxembourg servicing both alternative investment funds (AIFs) and Undertakings for the Collective Investment in Transferable Securities (UCITS). Created in 2013, as part of the service delivery platform Farad Group, Selectra offers a wide 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 said: "We're delighted to announce the completion of the acquisition of Selectra. Their service offering is a key component of our fund strategy and enables us to be a full-service provider."
Andrew O'Shea, global head of fund services at TMF Group added: "We are thrilled to welcome Selectra into the TMF family. The addition of this exceptional team strengthens our position as a leading provider of integrated solutions for fund managers."
He continued: "Offering a truly global presence, our strategy is to support fund managers throughout the lifecycle of their fund, regardless of where fund raising occurs or where capital is deployed."
Marco Cipolla, Managing Director of Selectra, said: "We are delighted that Commission de Surveillance du Secteur Financier gave the greenlight 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+ countries worldwide."
Marco Caldana, Chairman and Founder of Farad Group, said: "After seven years of stable and steady growth, 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."
The sellers were assisted by Volckrick & Associates (legal advisor). TMF Group was assisted by Allen & Overy (legal advisor).