MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group (MUFG), has reached an agreement to acquire select divisions of the fund administration business of Maitland, a privately owned global advisory, administration and family office firm.
Maitland personnel will join MUFG Investor Services offices in the 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 over $600 billion and expanding the firm’s market share in major 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 largest banks in the world with an established global footprint allowing for efficiencies of scale, risk mitigation, and tailored service models.
The deal is the latest in MUFG Investor Services’ continued push to identify leading financial technology and asset servicing partners that will help the firm continue to innovate and adapt to the changing financial environment. Through this acquisition, MUFG Investor Services’ will be enhancing the client experience by offering innovated and improved efficiencies to a broader client base.
“We were impressed with the work Maitland delivers and the superior level of service they provide to clients, qualities we hold to a high regard as well,” said John Sergides, CEO at MUFG Investor Services. “By adding Maitland’s capabilities and technology, we are able to reaffirm our commitment to the alternative asset servicing space and ensure our clients continue to receive the best possible support.”
“For nearly 30 years, we have offered independent third-party fund administration services across a wide range of fund types, strategies and investment styles, operating at the highest technological and governance levels with a highly recognized client service model,” said Scott Price, Head of Private Equity and Hedge Fund Services at Maitland. “The partnership and integration with MUFG Investor Services will afford an even larger platform to offer the strongest capabilities to our clients.”
The transaction is expected to close in 2020, subject to regulatory approvals and closing conditions.
