Komfie Manalo, Opalesque Asia:
Third party fund administrator TMF Group Fund Administration Services completed its acquisition of financial service provider Custom House Global Fund Services after buying the remaining 49% of the firm to become its sole owner.
TMF Group CEO Hugo van Vredenburch commented on the acquisition, "This is a unique and strategic proposition in today’s hedge fund administration landscape. As a global, independent and wholly-owned financial services firm we will continue to harness the innovative spirit of Custom House that was created by Dermot Butler in 1989.
"We are excited to take the entrepreneurial, dynamic, and client-focused attitude of Custom House and combine that with the backing of TMF Group. Our extensive corporate and financial institutional network in combination with Custom House’s leading-edge fund administration services will enable both companies to expand significantly in new and existing market segments."
TMF said in statement the acquisition allows TMF Group to further expand its business into the growing alternative investment sector (including Private Equity and Real Estate Investment Services) and offer the......................
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