PE Tech Report


Like this article?

Sign up to our free newsletter

EFA forms partnership with Asset Management Services

European Fund Administration has signed a partnership agreement with Italy’s Asset Management Services, a company specialised in fund administration services.

As part of the agreement, AMS acquires 100 per cent of Servizi, in which EFA previously held a 34 per cent stake, while EFA obtains ten per cent of AMS’s equity with the option of raising its ownership to 25 per cent by 2012.

By acquiring Servizi, AMS will expand its customer base and its assets under administration from EUR12.7bn as at 31 December 2008 to EUR19bn, thus becoming the largest independent provider of fund administration services in Italy.

Thomas Seale, chief executive officer of EFA, says: “Our partnership with AMS underscores EFA’s commitment to Italy and to the European fund market. As the largest independent fund administrator in Europe our strategy is to help our clients wherever their business is located. Together with AMS we look forward to delivering even more advanced solutions to a wider customer base.”

Matteo Moretti, chief executive officer of AMS, adds: “The acquisition of Servizi and the addition of EFA as one of our strategic partners strengthens our position as the most important independent fund administration services provider in Italy and improves our international reach.”

AMS is the only fully integrated provider of back office, middle office and ICT services in Italy. Founded in 2007 by Lynx and SEC Servizi it has grown to EUR19bn assets under administration and 150 employees.

AMS provides net asset value calculation for all kinds of Italian registered funds, transfer agency, IFA services, internal audit services, SPVs and other financial companies accounting services.
AMS shareholders are Modafyn, SEC Servizi, EFA and management.

EFA specialises in administrating investment vehicles and manages 2,400 fund units worth a total EUR80bn for more than 200 clients. EFA is present in Luxembourg, Paris (EFA France) and Italy with its ten per cent shareholding of AMS.

Like this article? Sign up to our free newsletter