TMF Group, a leading provider of high value business services to clients operating and investing globally, has acquired FiduPerú S.A., a Peruvian trust and fiduciary services specialist.
Established in 2008, FiduPerú S.A. is Peru's second-largest non-bank fiduciary company.
The acquisition, approved by the Peruvian regulator, the Superintendence of Banks, and Insurance and Private Pension Fund Administrators, strengthens TMF Group in Peru. A country whose economy is widely forecast to grow strongly in the coming years, and will help drive TMF Group's aim of being the foremost capital markets services provider in Latin America. With the recent completion of the acquisition, FiduPerú S.A. will now join the TMF Group family and be re-branded to TMF FiduPeru.
Raimundo Díaz, Head of the Americas at TMF Group, said: "Peru is a key growth territory for our business. We are excited to build on the impressive work by FiduPerú, in the capital markets sector, in both Peru and Latin America more generally. I look forward to seeing how FiduPerú helps us become the leader and market choice for Capital Market Services in the Latin American region providing SPV management, Agency and Trust services."
Juan Pablo Ranvier, Regional Business Developer at TCS Americas, said: "I am thrilled at the new opportunities this expansion will bring both us and the region. FiduPerú has an excellent track record and history of quality service. Tying this with our well-established presence in the region will result in an unmatched catalogue that can open even more new doors."
Esteban Hilgert, TMF Group's Managing Director for Peru, said: "FiduPerú is a successful and impressive company, and it – and Peru's capital markets industry more generally – hasn't yet reached full potential. Our aim is to build on the company's excellent quality and customer satisfaction and expand capital markets services within both Peru and Latin America."
The investment is the latest in a long string of deals for TMF Group in Latin America, who now employ around 1,800 people across 19 countries in the region.