TMF Group, a leading provider of global administrative services, including fund accounting and administration, today announced the acquisition of PartnersAdmin LLC (PartnersAdmin), a full-service outsourced fund administration provider.
As a result, TMF Group will now administer more than $215bn worth of assets on behalf of its global fund manager client base.
Founded in 2008 and headquartered in Carlsbad, California, PartnersAdmin brings a diverse set of investment management credentials and fund operations experience, with a strong US West Coast footprint and a great portfolio of fund clients across multiple states, including a robust presence in California, Texas, New York, and Colorado.
PartnersAdmin supports fund managers across all stages of fund lifecycles with their fully integrated technology platform, providing seamless integration of portfolio, partnership, and investor accounting.
The acquisition represents a strategic step in TMF Group’s expansion in the North American market, particularly in the US, where in 2021 the company acquired Venture Back office (VBO), a US based third-party provider of solutions to private equity, real assets, credit, and emerging manager funds, allowing TMF Group to continue to build a high quality, fast-growing fund administration business.
In January 2022, TMF Group acquired Paraty Capital, a Brazilian fund administration platform focused on private equity, real estate, infrastructure, venture capital, and private debt funds, enabling TMF Group to compete for larger funds mandates in the Brazilian market, particularly with large US managers.
The sellers were assisted by Paddock Capital Markets (M&A advisor) and Paul Hastings (Legal advisor) for this transaction. TMF Group was assisted by Mayer Brown (Legal advisor) and KPMG (Financial and Tax due diligence) for this transaction.
Media Enquiries: TMF Group
Giampaolo Arghittu, Senior Global External Communications Manager, TMF Group
Giampaolo.arghittu@tmf-group.com
Tel: +39 3349479584
PartnersAdmin:
Scott Tominaga, Chief Operating Officer, PartnersAdmin
stominaga@partnersadmin.com
Tel: +1 (858) 375-4110
About TMF Group
With some 9,100 in-house experts across 120 offices across 85 plus jurisdictions worldwide, TMF Group is the leading provider of critical compliance and administrative services serving corporates, financial institutions, asset managers and family offices and providing the combination of accounting, tax, payroll, compliance and entity management services essential to global business success.
Together we deliver a broad portfolio of consistent, integrated but localised services covering the business administrative essentials of accountancy and tax; HR administration, global payroll and employee benefits; and global entity management, corporate secretarial and regulatory compliance. Rapid response consultancy solutions support cross-border projects large and small, at every stage, across all our disciplines, and in every market. Specialised teams support fund and capital markets administration and private wealth and family offices. Because we know how to unlock access to some of the world’s most attractive markets – no matter how complex – swiftly, safely and efficiently, over 60% of the Fortune Global 500 and FTSE 100, and almost half the top 300 private equity firms, use us.
TMF Group – we make a complex world simple. For more info: www.tmf-group.com
About PartnersAdmin
Founded in 2008, PartnersAdmin provides a top-tier outsourced solution designed to meet the alternative investment industry's operational needs. As a System and Organization Controls 1 Type 2 certified administrator, the company is committed to helping to mitigate the rising costs and distractions that fund managers continuously face.
With offices in Carlsbad, California, Islandia, New York and Fishers, Indiana, PartnersAdmin has helped numerous clients over the years to effectively promote the protection of investors and decrease systemic risk.