JPMorgan Buys Schroders Private Equity Admin.

May 3 2010 | 10:17am ET

JPMorgan Chase has struck a deal for Schroders’ private equity administration business.

Terms of the deal were not disclosed, but it will add $6.2 billion in assets under administration to J.P. Morgan Worldwide Securities Services, which already oversees $225 billion. It also gives JPMorgan’s p.e. administration unit a base in Bermuda and Guernsey, where Schroders’ effort is based.

“This acquisition emphasizes our commitment to continuing to build out our industry-leading private equity administration offering," said Conrad Kozak, CEO of Worldwide Securities. "It allows us to expand the global footprint of our private equity administration business, while at the same time allowing us to further deepen our relationship with Schroders.”

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