Saturday, 30 August 2014
Last updated 1 day ago
Nov 14 2012 | 11:35am ET
For the third time in a month, the number of hedge fund administrators is getting smaller through consolidation.
US Bancorp has struck a deal for alternative investments administrator AIS Fund Administration. AIS will be folded into the firm's US Bancorp Fund Services unit, which will boast $50 billion in assets under administration—twice as much as it managed without AIS.
Terms of the deal were not disclosed.
"This acquisition is another key step in US Bank's strategic growth of our securities services business," Terrence Dolan, vice chairman of US Bank Wealth Management & Securities Services, said. "This enables us to expand our fund servicing capabilities and complements our focus on corporate trust services."
"We believe the addition of US Bancorp's highly-regarded suite of services, such as custody, trust and other banking services, will provide significant benefit to our clients," AIS CEO Boris Tiomkin added.
In addition to $25 billion in assets under administration, AIS brings 176 employees in the U.S., U.K. and Cayman Islands to US Bank.
The deal is the third for a hedge fund administrator in the past month: SS&C Technologies Holdings bought Hedgemetrix in October, and this week Maitland Group acquired Admiral Administration.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...