TMF Group, a global provider of high value business services to clients and State Street Corporation have made a definitive agreement for TMF Group to acquire State Street’s Private Equity and Real Estate (PERE) fund servicing business in the Channel Islands.
The acquisition is part of TMF Group’s strategy to further grow its PERE fund administration business and after the deal, the group’s assets under administration is said to reach over $125 billion for PERE clients.
In Jersey, the acquisition will add fund administration to its existing corporate and trust services, whilst in Guernsey, it will complement ...