MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group (MUFG), has acquired select divisions of the fund administration business of Maitland.
Maitland employees 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 to MUFG Investor Services.
John Sergides, CEO at MUFG Investor Services, said: “We were impressed with the work Maitland delivers and the superior level of service they provide to clients, qualities we hold to high regard as well. By adding Maitland’s capabilities and technology, we are able to reaffirm our commitment to the alternative asset servicing space and ensure our clients continue to receive the best possible support.”
Scott Price, head of private equity and hedge fund services at Maitland, commented: “For nearly 30 years, we have offered independent third-party fund administration services across a wide range of fund types, strategies and investment styles, operating at the highest technological and governance levels with a highly recognised client service model.”
He added: “The partnership and integration with MUFG Investor Services will afford an even larger platform to offer the strongest capabilities to our clients.”
