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. –have entered into an agreement for the acquisition of EFA by Universal Investment Group. The transaction is subject to regulatory clearance by CSSF and is expected to be completed in the second half of 2022.
With operational centres in Luxembourg and France, and AuA of close to EUR167bn (USD181bn), EFA is provides 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 a Germany-headquartered fund service platform provider with c. EUR750bn (USD814bn) AuA, about 2,000 mutual and institutional fund mandates and a workforce of more than 1,000 at locations in Frankfurt, Luxembourg, Dublin, London, Hamburg and Krakow. The pairing of the businesses will broaden the combined commercial and operational capabilities across European markets, with AuA of >EUR900bn (USD977bn) across >7,000 investment funds and segregated mandates.