Mitsubishi UFJ Buys Fund Administrator Meridian

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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of