TMF Group to acquire Selectra Management Company
TMF Group is to acquire the Selectra Management Company from Farad Group. Completion of the transaction is subject to regulatory approvals from the Commission de Surveillance du Secteur Financier.
Selectra Management Company (Selectra) is a regulated management company based in Luxembourg servicing both alternative investment funds (AIFs) and Undertakings for the Collective Investment in Transferable Securities (UCITS). Created in 2013 as part of the service delivery platform Farad Group, Selectra offers a wide range of services acting as an independent professional partner for the creation, management and distribution of AIFs and UCITS for European and non-European promoters.
The strategic acquisition of Selectra is a key milestone in TMF Group’s drive to further grow its fund services business. Selectra’s expertise and service offering will complement TMF Group’s fund activities in Luxembourg.
Frank Welman, regional head for TMF Group, says: “We’re delighted to welcome Selectra, their staff and their clients to TMF Group. Selectra is a well-established management company with the experience and the licenses to provide all the services that their clients – and our clients – require. This will be a huge step forwards for our organisation.”
Andrew O’Shea, global head of fund services at TMF group, says: “The acquisition of an established, market-leading management company marks an important milestone for TMF Group. We now provide a full suite of funds services, allowing fund managers to derive all their funds administration solutions from one single provider.”
Marco Cipolla, Managing Director of Selectra, says: “We are happy that Selectra has been chosen by TMF for its excellence in the market, and becoming part of TMF Group gives our clients access to the services and reach of a firm with a footprint in 80 countries worldwide. Together, we will be best positioned to meet our clients’ needs and enable them to focus on their core investing activities while being able to rely fully on a first-class partner for their funds.”
Marco Caldana, Chairman and Founder of Farad Group, says: “Over the last seven years, we have successfully developed Selectra to the established management company it is today. We are delighted to have TMF Group as a partner for the future growth of Selectra, its collaborators and its clients. We are convinced that TMF Group will continue to unlock the full potential of Selectra to the benefit of all its stakeholders.”
The sellers were assisted by Deloitte Luxembourg (M&A advisor) and Volckrick & Associates (legal advisor) for this transaction. TMF Group was assisted by Allen & Overy (legal advisor) and PwC Luxembourg (financial and regulatory due diligence) for this transaction.