TMF acquires FIDD
TMF Group has acquired Brazilian fund administrator FIDD Group.
The acquisition is expected to be completed in 2024, subject to Banco Central regulatory approval.
FIDD Group was created in 2019 and manages a variety of funds, including PE and credit funds. It offers administration, control, custody and distribution fund services.
TMF Group will assume responsibility for the administration of 70 new funds upon acquisition completion. It also aims to expand its exposure to the Latin American market, following on from its purchase of fund admin platform Paraty Capital last year.
Rodrigo Zambon, MD of TMF Brazil, commented: “This deal reflects how attractive the market is in Brazil. This is our second Brazilian acquisition in the fund administration space
and besides bolstering our presence in South America and complementing our existing
footprint, it will expand our offering to our national and international clients with interests in the region.”