(HedgeCo.Net) MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group (“MUFG”), has reached an agreement to acquire select divisions of the fund administration business of Maitland, a privately owned global advisory, administration and family office firm. Maitland personnel will join MUFG Investor Services offices in the Cayman Islands, Halifax, and Dublin.
When completed, the acquisition will add approximately $20 billion in assets under administration (“AUA”) to MUFG Investor Services, bringing the total AUA to over $600 billion and expanding the firm’s market share in major markets. The assets consist of hedge funds and private equity funds.
Additionally, new clients will have access to banking and treasury solutions from one of the largest banks in the world with an established global footprint allowing for efficiencies of scale, risk mitigation, and tailored service models.
The deal is the latest in MUFG Investor Services’ continued push to identify leading financial technology and asset servicing partners that will help the firm continue to innovate and adapt to the changing financial environment. Through this acquisition, MUFG Investor Services’ will be enhancing the client experience by offering innovated and improved efficiencies to a broader client base.