Monday, 30 November 2015
Last updated 28 min ago
Mar 19 2014 | 8:01am ET
Mitsubishi UFJ Fund Services has acquired Meridian Fund Services Group, a fund administrator with $14 billion in assets under administration.
The deal is part of Mitsubishi's strategy to build itself into a leading global investment services firm, and follows last year's acquisition of alternative fund administration firm Butterfield Fulcrum. The value of the Meridian acquisition was not revealed.
Mitsubishi, part of Mitsubishi UFJ Financial Group, provides fund administration and investor services to hedge funds, funds of funds, private equity and real estate funds, mutual funds and family offices. The acquisition of Meridian raises the group's fund services AUA to approximately $165 billion, servicing over 300 clients and 1,000 funds.
Said Tim Calveley, deputy CEO of Mitsubishi, in a statement:
“As regulatory and investor pressures continue to rise, investment managers need a partner who has both a strong balance sheet and can provide a wide range of solutions to meet specific needs. With the backing of the fifth largest bank in the world by assets we are confident in our expanding capacity to deliver the global reach, range of service and security our clients require.”
The transaction is subject to regulatory approval.
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…