Greenman Fund Administration (GMFA), part of real estate investment manager Greenman, has picked a 70% interest in fund administrator Compagnie Financière et Boursière Luxembourgeoise (COFIBOL).
Headquartered in Luxembourg, COFIBOL provides asset management, accounting and administration services to UCITS funds.
Go deeper with GlobalData
It serves private as well as institutional clients.
With the takeover, the firm will shift focus from UCITS vehicles to Alternative Investment Fund (AIF) solutions targeted at the Private Equity and Real Estate (PERE) communities.
The PERE service will incorporate administrative, transfer agency, company register, corporate secretarial, regulatory reporting as well as other ancillary services for AIFs and investment vehicles in Luxembourg.
GMFA already secured the green light from Luxembourg’s financial regulator for the deal.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFinancial terms of the transaction were not divulged.
COFIBOL shareholder and board member Vincent Priou said: “With Greenman, we share the same values and are convinced that focusing on PERE communities will support Cofibol’s next development phase.”
COFIBOL will serve as the fund administrator and corporate service provider for Greenman’s funds and investment vehicles that are domiciled in Luxembourg.
This includes the €760m flagship Greenman OPEN fund. The move awaits regulatory nod.
Greenman believes that the move will enhance its investment management platform, help it respond to market conditions more effectively and boost returns.
Anne-Marie Maréchal and Loic Dupont, the CCO and CFO of Greenman respectively, will now have seats on the COFIBOL board.
GMFA CEO Darragh Gogarty said that the company eyes AUM growth to €3bn in Europe in the coming five years despite the impact of the Covid-19 pandemic.
Gogarty noted: “Vertical integration has been a key development strategy for Greenman over the years and in recent weeks we have seen the merits as we go through this strange period of COVID-19.
“The addition of COFIBOL to the Greenman Group will further bolster our operational resilience and enable the planned expansion of our investment activities.”
