European Fund Administration to become a member of Universal Investment Group
Date: 12. April 2022
Frankfurt am Main
- Combined assets under administration of more than EUR 900 billion in over 7,000 investment funds and segregated mandates
- Partnering with EFA is another milestone to reach the ambition of becoming the leading European investor services platform and Super ManCo
- Jointly, both companies want to significantly develop geographical regions like the Nordics, France and Benelux.
Universal Investment Group and the shareholders of European Fund Administration (EFA) – Banque de Luxembourg, Banque et Caisse d'Épargne de l'État, Oddo BHF, Quintet Private Bank (Europe) S.A. – today jointly announce that they have entered into an agreement for the acquisition of EFA by Universal Investment Group. The transaction is subject to regulatory clearance by the Luxembourg financial authority CSSF and is expected to be completed in the second half of 2022.
Founded in 1996, with operational excellence centres in Luxembourg and France and assets under administration of close to EUR 167 billion at the close of 2021, EFA is a leading provider of fund administration services, private asset services, and front-, middle-, and back-office services to banks, asset managers, insurance firms, wealth managers, family offices, and institutional investors.
The Universal Investment Group is one of Europe's leading fund service platforms with around EUR 750 billion in assets under administration, about 2,000 mutual and institutional fund mandates and a workforce of more than 1,000 at locations in Frankfurt am Main, Luxembourg, Dublin, London, Hamburg and Krakow. Over the last few years, Universal Investment has joined a new league of a small number of major international players in the market. In addition to the DACH region, internationalisation is progressing successfully by leveraging the company’s Luxembourg and Irish fund hubs, especially for international asset managers.
The pairing of both organizations will broaden the combined commercial and operational capabilities across European markets, with assets under administration of more than EUR 900 billion in more than 7,000 investment funds and segregated mandates.
EFA's shareholders see similar foundation stories and ambitions in EFA and Universal Investment Group. Both were created by financial institutions to pool operational skills and investment. This allowed their founders and other clients to focus on their core businesses, while both companies grew to market-leading non-bank investor services firms. Two success stories, we are confident will continue by entrusting EFA to Universal Investment Group. As strategic clients, the current shareholders are committed to contribute to the long-term success of EFA as a member of Universal Investment Group.
EFA will be a perfect fit for Universal Investment and our growth story. We have been business partners with EFA for several years and are impressed by the commitment and skill of their people, the quality of their services and its success in becoming ‘more than a fund company’. Partnering with EFA is another milestone not only to reach our objective of becoming the leading European investor services platform and Super ManCo but also regarding our ambition to provide customers the full investor services spectrum.
Therefore, EFA will act as the Group’s international investor services platform located in Luxembourg and France in addition to the Frankfurt based platform for the DACH region. Michael Reinhard adds: “Our customers will benefit from additional solutions for alternative investments and private assets. Combining these successful business models will further accelerate growth and internationalisation of the combined company. Jointly, both companies want to significantly develop geographical regions like the Nordics, France and Benelux. We are very pleased and excited to welcome EFA and their clients and people to the Universal Investment Group.”
Both companies have dedicated business models focused on asset services and share the idea of an open architecture platform for the financial services industry. Therefore, customers will profit from a joint financial services company with a dedicated business model, new product developments especially in the private and alternative asset space and the innovative strength e.g. for digital assets. Jointly, both companies want to significantly develop geographical regions like the Nordics, France and Benelux.
EFA will remain its own business entity as part of the Universal Investment Group and under the Universal Investment brand. EFA complements Universal Investment’s business model and will further broaden the portfolio of services for international clients. Universal Investment Luxemburg will continue to operate independently of EFA as the group’s successful international third-party ManCo and AIFM.
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Founded in 1996, with operational excellence centres in Luxembourg and France, EFA is a leading provider of fund administration services, private asset services, and front-, middle-, and back-office services to banks, asset managers, insurance firms, wealth managers, family offices, and institutional investors.
More information is available at www.efa.eu