Abu Dhabi’s Wealth Fund Said to Buy Stake in CVC-Owned TMF Group

Abu Dhabi Investment Authority has agreed to invest in TMF Group, the corporate-trust services provider owned by CVC Capital Partners that had been exploring an initial public offering, according to people familiar with the matter.

The Middle East sovereign wealth fund will take a significant minority stake in TMF and a seat on the company’s board, the people said, asking not to be identified discussing confidential information.

TMF provides services including bookkeeping, payroll, fund administration and compliance to multinational corporations and financial institutions. CVC agreed to buy the company in 2017 for a total consideration of 1.75 billion euros ...