Texas-based private equity firm TPG has emerged as the highest bidder among several investment firms interested in acquiring Alter Domus, a Luxembourg-based fund administration company backed by British private equity firm Permira, according to a report by Bloomberg.
The report cites people familiar with the matter as confirming that if completed, the potential €4.5bn ($4.9bn) transaction will rank among this year’s biggest European private equity deals.
Other bidders for the Alter Domus acquisition include Hellman & Friedman and Cinven, according to the report, with Permira reportedly still consider several proposals having asked bidders to provide information on Their history of investing in regulated financial businesses.
Alter Domus, which was founded in 2003 and has about $2.2tn under administration, specialises in administrative and compliance issues for private equity and other alternative investment firms.
Permira first invested in Alter Domus in 2017 and currently shares ownership with the company’s Founder, Dominique Robyns, and other private shareholders.
