Regulators in Luxembourg and Guernsey approve acquisition
TMF Group, a leading provider of high value business services to clients operating and investing globally, has completed the acquisition of Gentoo Holdings Limited (“Gentoo”), a Guernsey and Luxembourg based provider of fund administration services.
Established in 2011, Gentoo performs administration of regulated and unregulated funds, as well as offering depositary services, and a range of corporate and domiciliation services. The company has grown its assets under administration to over $15bn, developing a reputation for excellent service delivery with its many longstanding clients. The management teams in both Guernsey and Luxembourg have extensive fund experience and are supported by a motivated team of 50 staff.
The acquisition of Gentoo – and now completion following approval by regulators in Luxembourg and Guernsey – represents a key milestone for the development of TMF Group’s private equity / real estate (“PERE”) offering, a strategic area of growth for the Group. A fast- growing business with an excellent portfolio of clients in its own right, TMF Group will be able to leverage the expertise of the senior management team to expand its PERE offering into other jurisdictions. Gentoo’s clients will also benefit from TMF Group’s broader expertise in SPV administration, and the suite of support services that it can offer to operating companies in over 80 countries around the world.
Nick Degnen, Managing Director of Gentoo, commented: “Becoming part of TMF Group allows us to offer our clients new services from a wider range of jurisdictions, all the while maintaining our hands-on and client-focused approach. We’re happy that the regulators in Luxembourg and Guernsey have approved the acquisition, and we’re looking forward to start working with our new colleagues across TMF Group.”
Bruno Bagnouls, Global Head of PERE at TMF Group, commented: “The completion of the Gentoo acquisition will accelerate our ongoing investment in and commitment to our PERE strategy. With the Gentoo team we’re taking another step on the road of our expanding footprint in the alternative investments sector. In the coming months I look forward to the integration of the teams and welcoming the Gentoo clients to TMF Group.”
TMF Group funds the acquisition from existing cash resources; financial terms of the transaction have not been disclosed.
For further information, please contact:
Damian Kerr
Director of Communications, TMF Group
damian.kerr@tmf-group.com
+44 (0)20 7832 8954