US Bancorp Adds Administrator AIS

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.