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Intertrust in talks with CVC over €1.6bn takeover

AcquisitionDutch fund services group Intertrust is set to be acquired by private equity group CVC Capital Partners in a €1.63 billion ($1.87 billion) deal.

The two parties have entered exclusive talks over a deal that would see CVC pay €18 a share for the specialist fund administrator.

Should the deal be completed, CVC is considering merging Intertrust with another Dutch fund services firm, TMF Group, which it acquired in 2017 for €1.8 billion.

In 2020 Intertrust reported a net income of €20.8 million and €565 million in revenue. The fund administrator also reported a 1.6% year on year increase on revenue to €140.3 million for the latest quarter.

Intertrust also provides AIFMD management company (ManCo) services, an area that has become of great interest to private equity firms in the last two years, partly driven by the belief that EU regulatory requirements will drive the demand for ManCo services.

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