TMF Group, a leading provider of compliance and administrative services, today announced the successful completion of its acquisition of Goodbody Fund Management (“GFM”), part of Goodbody Stockbrokers UC (“Goodbody”), one of Ireland’s leading financial services firms.
Operating since 2013, GFM and the Property Investment Management team provide tailored fund solutions to Alternative Investment Funds (AIFs) and Undertakings for Collective Investment in Transferable Securities (UCITS), as well as property investment management services. GFM is a regulated AIFM and UCITS management company (“ManCo”) with extensive experience in managing funds for institutional clients.
The completion of this acquisition represents a strategic step in TMF Group’s expansion into the Irish market, allowing the company to continue to build a high-quality, fast-growing funds business. As a result of the acquisition, TMF Group will now administer US$225bn worth of assets on behalf of its global fund manager client base.
Commenting on the acquisition, TMF Group Head of EMEA, Frank Welman, said: “This is a fundamental step which will enable TMF Group to offer management company services in Ireland to the alternative investment community spanning all asset classes.”
Daniel Max, Head of Global Solutions at TMF Group, said: “This acquisition is a strategic move to expand TMF Group’s array of services in the key jurisdictions for fund administration. We are very pleased to welcome GFM’s employees into our family as we further strengthen our credentials in Ireland.”
GFM Chief Executive, Phelim Keogan, commented: “Our highly experienced fund management team is pleased to join the TMF Group family, and our clients will now have access to the services and reach of a firm with a footprint in over 80 countries worldwide.”
For this transaction, the sellers were advised by Goodbody Corporate Finance (M&A) and Arthur Cox (legal). TMF Group was advised by Simmons & Simmons (legal) and EY (Finance & Tax).
Media contact
TMF GROUP:
Giampaolo Arghittu, Global External Communications Manager, TMF GROUP
T: +39 334 947 95 84
About GFM
GFM provides tailored fund solutions to Alternative Investment Funds (AIFs) and Undertakings for Collective Investment in Transferable Securities (UCITS), and also provides property investment management services. For more information on the services provided by GFM, please visit: https://www.goodbody.ie/for-business/goodbody-fund-management.
About Goodbody
Goodbody is a leading financial services firm serving and growing client relationships for nearly 150 years. Goodbody is a full service, investment-led business offering wealth management, asset management and investment banking services. Services are provided from four offices across Ireland and UK, employing 360 staff.
For more information on the services provided by Goodbody, please visit: https://www.goodbody.ie/.