TMF Group Provide Fund Services to US$4.5bn CVC Capital Partners fifth Asia Pacific Fund
TMF Group, a leading provider of business administration services, has been selected by CVC Capital Partners to provide administration and depositary services to CVC Capital Partners Asia V L.P (“Fund V”)- a $4.5bn Jersey-domiciled and regulated fund.22 June 2020
CVC’s Asia Pacific strategy is focused on control and partnership investments in high quality businesses in core consumer and services sectors across Asia. CVC has raised US$15 billion of commitments across its Asia Pacific funds.
“CVC Capital Partners are a world-renowned private equity and investment advisory firm. We are very pleased to have been able to support them with the closing of their latest Asia Pacific fund and to continue our long-standing partnership into the future,” states James Coughlan, Head of Fund Services, Jersey.
He adds: “Our team have provided outsourcing support to CVC since they launched their first private equity fund in 1996, and will continue to deliver a wide range of administration, accounting and investor services to Fund V. A member of the TMF Group will also act as Fund V’s depositary.”
The Channel Islands are at the centre of TMF Group’s global fund services capabilities, following the acquisition of State Street’s Fund Services business in 2019 and Guernsey-based Gentoo in 2017. The fund services team in the Channel Islands is made up of more than 160 staff across both Jersey and Guernsey. This makes them well placed to serve world leading private equity houses.
Other services provided by TMF Group in the Channel Islands focus on private clients, corporate and institutional, employee benefits and private wealth & family office services.