TMF Group, a Netherlands-based provider of administrative services, has entered into an agreement to acquire FIDD Group, a full-service outsourced fund administration provider based in Brazil. The transaction is subject to regulatory approval by Banco Central, with completion expected in 2024. Following the acquisition, TMF Group would administer more than EUR200bn of client assets. FIDD focuses on the administration, control, custody and distribution of investment funds. The deal follows the 2022 acquisition of Paraty Capital, a Brazilian fund administration platform focused on private equity, real estate, infrastructure, venture capital and private debt funds.
