Universal Investment Group Secures Funding from Canada Pension Plan Investment Board
Fund administration service provider Universal Investment Group has secured a significant investment from the Canada Pension Plan Investment Board (CPP Investments), alongside current lead investor Montagu.
Under a new partnership, CPP Investments and Montagu will support Universal Investment Group’s geographic expansion, particularly in the North American market, and its ambition to become a global leader in fund services.
Universal Investment serves both institutional investors and asset managers and is active in the three largest European fund domiciles: Germany, Ireland and Luxembourg.
To strengthen its international growth, Universal Investment will acquire the Luxembourg company European Fund Administration (EFA), a provider of fund administration services, private asset services and front, middle and back office services.
Montagu made its first investment in Universal Investment Group in 2017. The group currently serves more than 470 clients and manages €760 billion in assets.
Michael Reinhard, CEO of Universal Investment Group, said: “Our development into one of Europe’s fastest growing fund services platforms has been a key driver for CPP Investments to invest.
“Supported by the excellent partnership with Montagu, we have exploited our full potential and have become one of the few active players in Germany, Ireland and Luxembourg, offering not only ManCo services, but also administration and distribution of funds.”
Daniel Fischer, Director of Montagu, adds: “Our relationship with Universal Investment began several years before the acquisition was completed in 2017, and we are delighted to be able to continue the partnership while delivering a strong return to our investors.
“Universal Investment has performed strongly over the past five years, recording strong growth in Germany while accelerating its expansion in Luxembourg and entering a strategic new market in Ireland. We have every reason to believe the business will get better and better as it continues to broaden its offering across products, asset classes and jurisdictions.