TMF Group, a provider of administrative services, has completed the acquisition of Paraty Capital, a Brazilian fund administration platform which focuses on private equity, infrastructure, venture capital and private debt funds.
Paraty Capital has been providing independent third-party fund administration services since 2014 and has over 15 billion Brazilian real in AUM.
As a result of the acquisition, TMF Group will now administer more than 160 billion Euros of assets on behalf of its fund manager clients, providing end-to-end fund administration solutions in Brazil, the United States, Cayman Islands, Guernsey, Jersey, Luxembourg, Singapore, India, Hong Kong, China and Australia.
The acquisition is part of TMF Group’s strategy to grow its global fund services business and further its capabilities in the Americas. As well as offering fund managers coverage across South America, it can now also provide administration services to regulated Brazilian funds.
The deal follows other carefully selected acquisitions that have taken place recently, including that of Venture Back Office, a fund business in the US; State Street’s fund administration business in the Channel Islands; IQ-Nexus in The Netherlands; and Selectra, a third party AIFM Manco in Luxembourg.
Michael Seligman, head of Iberia and Latin America, said: “We are delighted to welcome the team at Paraty Capital into the TMF Group fold. The Latin American market is particularly important for the group due to its strong links to the US market and its global growth potential.”
Andrew O’Shea, TMF Group’s global head of fund services, said: “TMF Group is the clear market leader in supporting GPs across Latin America. The addition of the Paraty team strengthens our offering and underlines our commitment to the region. We can now offer a complete administration solution to GPs.”
Christiano Jonasson, co-founder of Paraty Capital, stated: “TMF Group has a lot to offer our clients and we are excited to be joining forces with them. Their global footprint, use of technology and complementary service offering makes them a real provider of choice in the marketplace both for our clients and employees.
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