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

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note