U.S. Bank has entered into a definitive agreement to purchase the debt servicing and securities custody services client portfolio of MUFG Union Bank, N.A. Under the terms of the agreement, U.S. Bank will acquire approximately 600 client relationships and USD320bn AuC/A. The deal is expected to close in the first quarter of 2021, subject to…
Category: M&A
IQ-EQ acquires Constellation
IQ-EQ, the Luxembourg-based administrator, has completed the acquisition of Constellation Advisers LLC, a U.S.-based co-sourced and outsourced investment management services provider, following receipt of all necessary regulatory approvals. Constellation Advisers, which has 115 employees across six U.S. offices, provides customised solutions to a range of traditional and alternative investment management firms, including private equity, real…
Sudrania acquires Triple Leo Consulting to boost digital presence
Sudrania Fund Services, a U.S.-based administrator, has acquired the primary assets of Triple Leo Consulting, a U.S.-based fund administrator that specialises in crypto and digital assets fund administration. Terms of the deal were not disclosed. TLC founder Mike Quinn joins Sudrania in an advisory role and TLC’s entire staff has joined Sudrania’s team. This acquisition…
MJ Hudson acquires PERACS
MJ Hudson, the UK-based asset management consultancy, has acquired PERACS, a fund and portfolio performance specialist. The PERACS business will operate under the name of MJ Hudson Fund Performance Analytics. This is the fourth acquisition by MJ Hudson’s Data & Analytics division in two years: Meyler, a marketing analytics business; Spring Associates Responsible Investor Services,…
Universal-Investment to buy Metzler’s Irish business
Universal-Investment Group is entering the Irish fund market with the acquisition of Metzler Ireland Limited (MIL). MIL has 20 employees with c. EUR2.8bn under management. The company is a part of B. Metzler seel. Sohn & Co. KGaA, a German private bank. Closing of the acquisition is subject to regulatory approval.
Link to acquire Casa4Funds in Lux
Link Group and Banor Capital have signed an agreement for the acquisition of Casa4Funds by Link. Completion of the transaction is subject to regulatory approvals. Casa4Funds is a European independent third-party UCITS ManCo and AIFM, based in Luxembourg. The combined businesses will have approximately EUR3bn AuM in Luxembourg and EUR100bn across Europe.
Apex to acquire Mauritius-based GFin
Apex has announced plans to acquire GFin Corporate Services Ltd., a Mauritius-based management company providing fund administration services to institutional clients. GFin provides a range of services including company, trust and fund formation, corporate and trust administration, fund administration, corporate structuring, tax compliance, accounting and tax services, NAV calculation, directorship, company secretarial and share registry.…
Alter Domus makes acquisitions in London & Boston
Alter Domus, a Luxembourg-based provider of solutions to the alternative investment industry, has acquired London-based fintech, Credit-Vision Limited. Credit-Vision is a data and analytics platform for corporate credit investors. Credit-Vision streamlines and modernises portfolio management by automating data extraction from issuers’ financial reports and channels financial data from multiple sources into a single access point.…
SS&C to acquire Millennium Consulting Services
SS&C has entered into a definitive agreement to acquire Millennium Consulting Services and Millennium Seminar Services, which provide consulting and training services to insurance companies and insurance regulators. The purchase price for the two entities was not disclosed. The acquisition will add 13 employees across the U.S. The founders of the Millennium companies, Bruce Cromartie…
Oak and PraxisIFM end merger talks
Oak Group and PraxisIFM Group, two Guernsey-based administrators, have called off their proposed merger, first announced in August 2020. In a statement, Oak said: “With a particularly unpredictable global economic backdrop, a number of hurdles have led to the cessation of discussions”.