TMF Group acquired fund administration business in Channel Islands from State Street.

TMF Group, a multinational professional services firm headquartered in Amsterdam, acquired fund administration business in Channel Islands from State Street, an American financial services and bank holding company. Financial terms were not disclosed. Mark Weil, CEO of TMF Group said: “The funds sector is one of our global specialties where we see a great opportunity for a firm with our geographic reach and technical capabilities. The combination of State Street and TMF funds platforms will create a tremendous offering to take to funds around the world, whether for the funds themselves, their SPVs or the operating entities they have invested in.”