Fund administrator CSC has agreed to buy TCS-Groep (TCS), a Dutch firm that provides fund administration and depositary services for alternative investment funds (AIFs).

The deal is aimed at strengthening the capabilities of CSC for global financial market (GFM) clients.

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Established in 1991, CSC offers back office, compliance, accounting, tax, representation, and domiciliation services to Dutch funds.

Managing director Liam McHugh will now move to Dublin to run the Europe fund administration business of CSC.

In Europe, the firm currently also operates through London, Luxembourg, and Dublin branches.

The business oversees over €6.5bn in assets, prioritising social impact, real estate, private equity, and private debt funds. 

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All of TCS’ 26 employees will move to CSC upon deal completion.

TCS-Groep CEO Birgitte van den Broek said: “Becoming part of CSC gives us the ideal platform to further accelerate our success in building the highest quality fund services business in the Netherlands. We are excited to partner with a firm that has an international footprint and the same commitment to service excellence that our clients have come to expect.

“We carefully selected our partner, and this represents the ideal outcome for both our clients and employees.” 

The transaction, whose value was not divulged, awaits regulatory nod.

CSC senior vice president John Hebert said: “We’re delighted to welcome TCS to CSC as part of our long-term strategy to develop the European market by offering international clients our suite of fund administration, capital markets, and depositary services.

“TCS has an impressive track record and similar service-oriented culture to our own.”