Business administration services provider TMF Group has been selected by CVC Capital Partners to provide administration and depositary services to CVC Capital Partners Asia V, a $4.5bn Jersey-domiciled and regulated fund.
CVC’s Asia Pacific strategy is focused on control and partnership investments in high-quality businesses in core consumer and services sectors across Asia. CVC has raised $15bn of commitments across its Asia Pacific funds.
James Coughlan, TMF's Head of Fund Services, Jersey, commented: “Our team has provided outsourcing support to CVC since it launched its first private equity fund in 1996, and will continue to deliver a range of administration, accounting and investor services to Fund V. A member of the TMF Group will also act as Fund V’s depositary.”
The Channel Islands are at the centre of TMF Group’s global fund services capabilities, following the acquisition of State Street’s Fund Services business in 2019 and Guernsey-based Gentoo in 2017. The fund services team is made up of more than 160 staff across Jersey and Guernsey.