Universal Investment Group completes acquisition of EFA
09. November 2022
Frankfurt am Main/Luxembourg
- Following regulatory approval by the CSSF, Universal Investment successfully closes the acquisition of European Fund Administration (EFA)
- EFA joining Universal Investment substantially accelerates the Group’s international expansion
- Combined assets under administration exceed EUR 900 billion
Universal Investment Group is pleased to announce that it has successfully completed the acquisition of Luxembourg-based financial services provider European Fund Administration S.A. (EFA). The agreement for the acquisition was signed in April and has recently been approved by the Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg financial regulator.
Founded in 1996, EFA has offices in Luxembourg, France and recently opened an office in Sweden. It is one of the leading independent providers of fund administration, private asset services and front, middle and back office solutions. Its clients include asset managers, banks, insurance companies, wealth managers, family offices and institutional investors. In the future, EFA will act as the group's international investor services platform and its branding will evolve.
EFA and Universal Investment Luxembourg, the largest third-party management company and largest AIFM in Luxembourg, will continue as separate entities and be managed independently. Customers can therefore choose and combine the product lines from each business entity. "Customers from both companies will benefit from a modular offering of EFA’s investment administration capabilities and Universal Investment Luxembourg's management company function, which is complemented by our fund distribution team," states Katja Müller, Chief Customer Officer at Universal Investment Group.
"We are excited to work together with Universal Investment Group to bring more service optionality to our clients and push new product developments," explains Gary Janaway, newly appointed CEO and former COO of EFA.
With the acquisition, Universal Investment Group becomes one of the leading multi-jurisdiction ManCo/AIFM and Fund Administration across all asset classes. It now has assets under administration of more than 900 billion euros in more than 7,000 funds and structures. The aim is to significantly expand business activities in the Nordics and France in particular in order to further internationalize the client structure and extend the joint range of services.