LONDON–(COMMERCIAL THREAD) – MUFG Investor Services, the global asset management arm of Mitsubishi UFJ Financial Group (âMUFGâ), has entered into an agreement to acquire certain divisions of the fund administration business of Maitland, a global private consultancy, administration and family office company. Maitland staff will join MUFG Investor Services offices in Cayman Islands, Halifax and Dublin.
When completed, the acquisition will add approximately $ 20 billion in assets under administration (“AUA”) to MUFG Investor Services, bringing the total AUA to more than $ 600 billion and increasing the company’s market share on the main markets. The assets consist of hedge funds and private equity funds.
Additionally, new clients will have access to banking and treasury solutions from one of the world’s largest banks with an established global footprint enabling economies of scale, risk mitigation and tailored service models.
The agreement is the latest in MUFG Investor Services’ ongoing efforts to identify key fintech and asset services partners that will help the company continue to innovate and adapt as the world evolves. financial environment. With this acquisition, MUFG Investor Services will enhance the customer experience by delivering innovative and improved efficiencies to a broader customer base.
âWe have been impressed with the work Maitland has provided and the superior level of service it provides to clients, qualities that we also hold in high regard,â said John Sergides, CEO of MUFG Investor Services. âBy adding Maitland’s capabilities and technology, we are able to reaffirm our commitment to the alternative asset servicing space and ensure that our customers continue to receive the best possible support.
âFor nearly 30 years, we have provided independent third-party fund administration services across a wide range of fund types, strategies and investment styles, operating at the highest levels of technology and governance with a model of highly recognized customer service, âsaid Scott Price, Head of Private Equity and Hedge Fund Services at Maitland. âThe partnership and integration with MUFG Investor Services will provide an even greater platform to deliver the strongest capabilities to our clients. ”
The transaction is expected to close in 2020, subject to regulatory approvals and closing conditions.
Terms of the agreement are not being disclosed.
About MUFG Investor Services:
MUFG Investor Services provides asset management solutions to clients around the world. Leveraging the financial and intellectual capital of MUFG – one of the world’s largest banks with $ 2.7 trillion in assets – we provide our clients with access to a range of leading solutions ranging from fund administration, middle-office outsourcing, custody, foreign exchange, hedge funds. fund financing, trustee and custodian services for securities lending and other banking services.
MUFG has 90 years of custody experience, 360 years of banking history, and has managed a global securities lending program for 20 years. MUFG Investor Services currently provides administration services for over 2,100 funds across all investment strategies, asset types and fund structures. It has over $ 580 billion in assets under administration.
Maitland is a global advisory and administration firm providing transparent, multi-jurisdictional legal, tax, trust, investment and fund administration services to private, professional and institutional clients. Founded in Luxembourg in 1976, Maitland is a privately held company with 17 offices in 12 jurisdictions, over 1,100 employees and over $ 220 billion in assets under administration.
Providing independent third-party fund administration services since 1990, Maitland expanded its business into North America by acquiring an award-winning global fund administration company in 2012. Leveraging the talented team of accountants and specialists in technology With over 45 years of combined experience in technology integration, Maitland has consistently developed solutions for hedge, private equity and hybrid funds.
We leverage strong values ââand a collaborative culture to build trusting relationships with our clients and deliver tailor-made end-to-end solutions that embrace complexity and deliver simplicity.