TMF Group to acquire third party fund services business Goodbody Fund Management
TMF Group, a leading provider of compliance and administrative services, today announced the acquisition of Goodbody Fund Management (“GFM”), part of Goodbody Stockbrokers UC (“Goodbody”), one of Ireland’s leading financial services firms. Completion of the transaction is subject to regulatory approval.
In operation 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 acquisition represents a strategic step in TMF Group’s expansion in the Irish market, allowing TMF Group to continue to build a high quality, fast-growing funds business. As a result, TMF Group will now administer more than $225bn worth of assets on behalf of its global fund manager client base.
We’re delighted to welcome GFM, its employees and clients to TMF Group. GFM is a well-established Super ManCo, regulated in Ireland and licensed to operate various alternative asset classes as well as liquid funds which will enable TMF Group to become a one-stop shop for our fund clients. GFM’s experience in offering top level alternative investment services, spanning from real estate to retail funds, represents a huge step forward for our fast-growing global fund services operation.
The acquisition is a fundamental part of a continuing growth story for TMF Group and a strategic intent to develop and grow its global fund services business. GFM adds high quality funds capability to TMF Group’s portfolio of services in Ireland, helping it to increase its share of this growing market. This deal is part of TMF Group’s drive to further grow its fund services business and the deal follows a successful series of acquisitions by TMF Group in Luxembourg (Selectra), in Brazil in 2022 (Paraty Capital) and in the United States (VBO in 2021 and PartnersAdmin in 2023).
GFM is extremely proud of the company we’ve built over the past 10 years and the strong customer franchise we have established. Our highly experienced fund management team is excited to join such a global, trusted leader in the professional services industry, affording us the opportunity to rapidly grow our market profile and enhance our customer offering.
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 enquiries: TMF Group
Giampaolo Arghittu, Senior Global External Communications Manager, TMF Group
Tel: +39 3349479584
About TMF Group
With some 10,000 in-house experts across 125 offices across 86 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
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
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/