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.
Terms of the deal are undisclosed.
About MUFG Investor Services:
MUFG Investor Services provides asset servicing solutions to clients globally. Leveraging the financial and intellectual capital of MUFG – one of the largest banks in the world with $2.7 trillion in assets – we provide clients access to a range of leading solutions from fund administration, middle-office outsourcing, custody, foreign exchange, fund of hedge fund financing, trustee services and depository to securities lending and other banking services.
MUFG has 90 years of custody experience, 360 years of banking history and has run 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 $580bn in assets under administration.
www.mufg-investorservices.com
About Maitland:
Maitland is a global advisory and administration firm providing seamless multi-jurisdictional legal, tax, fiduciary, investment and fund administration services to private, corporate and institutional clients. Founded in Luxembourg in 1976, Maitland is privately owned with 17 offices across 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 operations to North America by acquiring an award-winning global fund administration firm in 2012. Leveraging the talented team of accountants and technology specialists with over 45 combined years of experience in technology integration, Maitland has been steadily evolving solutions for hedge, private equity and hybrid funds.
We leverage strong values and a collaborative culture to build trusted relationships with our clients and provide tailored end-to-end solutions that embrace complexity and deliver simplicity.
www.maitlandgroup.com
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Mark LaVoie
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