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

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note