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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…