TMF Group expands US presence by acquiring PartnersAdmin LLC

Press release from TMF Group:

TMF Group, a leading provider of global administrative services, including fund accounting and administration, today announced the acquisition of PartnersAdmin LLC (PartnersAdmin), a full-service outsourced fund administration provider.

As a result, TMF Group will now administer more than $215bn worth of assets on behalf of its global fund manager client base.

Founded in 2008 and headquartered in Carlsbad, California, PartnersAdmin brings a diverse set of investment management credentials and fund operations experience, with a strong US West Coast footprint and a great portfolio of fund clients across multiple states, including a robust presence in California, Texas, New York, and Colorado.

PartnersAdmin supports fund managers across all stages of fund lifecycles with their fully integrated technology platform, providing seamless integration of portfolio, partnership, and investor accounting.

The acquisition represents a strategic step in TMF Group’s expansion in the North American market, particularly in the US, where in 2021 the company acquired Venture Back office (VBO), a US based third-party provider of solutions to private equity, real assets, credit, and emerging manager funds, allowing TMF Group to continue to build a high quality, fast-growing fund administration business.

In January 2022, TMF Group acquired Paraty Capital, a Brazilian fund administration platform focused on private equity, real estate, infrastructure, venture capital, and private debt funds, enabling TMF Group to compete for larger funds mandates in the Brazilian market, particularly with large US managers.

The sellers were assisted by Paddock Capital Markets (M&A advisor) and Paul Hastings (Legal advisor) for this transaction. TMF Group was assisted by Mayer Brown (Legal advisor) and KPMG (Financial and Tax due diligence) for this transaction.