Doughty’s TMF takes full control of Custom House

TMF first invested into the company in September 2008 in a deal which saw Custom House reorganised under its Maltese-based holding company Custom House Global Fund Services.

Following the transaction, the newly combined entity will aim to expand its alternative asset management offering.

Previous investment
Doughty Hanson acquired a majority stake in Dutch financial administration group TMF in July 2008, in a €750m secondary buyout from previous investor Silverfleet Capital.

In September 2010, Doughty Hanson acquired Equity Trust for €350m from Candover Partners, with plans to merge the group with TMF.

Company
TMF supports clients in corporate structures, financial vehicles and investment funds. The company has 100 offices in 75 jurisdictions. Its fund administration business, which caters to the private equity and real estate markets, operates from offices in Rotterdam, Sydney, Geneva, Sofia and Malta.

Custom House was founded by Dermot Butler in 1989 in Ireland. The company offers a range of financial services to its clients and specialises in fund services for alternative investment vehicles. It counts 200 fund managers and 500 investment funds on its books.

The newly enlarged group will operate from 14 locations globally and will oversee $40bn of assets under administration.

People
Hugo Van Vredenburch is CEO of TMF. Mark Hedderman is CEO of Custom House Global Fund Services. Following the deal, Custom House Global Fund Services founder Dermot Butler will step down from his role as chairman and will become president of TMF Custom House Global Fund Services.

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• Topics
• Portfolio management
• UK / Ireland
• Financials
• Doughty Hanson & Co
• Silverfleet Capital
• Ireland