It’s getting increasingly difficult to track all the merger and acquisition (M&A) deals in the Fund Administration industry.
We couldn’t find a single comprehensive source so we decided to create one ourselves.
This post will be updated on an ongoing basis. We'd love to hear from you if we're missing anything. Please contact alan@fundrecs.com if you've details we can add.
Click the links below to view deal details or scroll down for the full timeline:
GTCR, a US private equity firm, has entered into an agreement to separately acquire Ultimus Fund Solutions and Gemini Companies.
The combined company, which will operate as Ultimus Fund Solutions only, will hold approximately $150 billion of assets under administration, service over 840 funds, and provide a range of middle- and back-office services to mutual fund and alternative investment managers.
Value - Not disclosed
Assets under Administration (AuA) - $150 billion
Press Release - GTCR Announces Strategic Combination of Ultimus and Gemini: link
Press Coverage - Ultimus Fund Solutions and Gemini to merge following private equity backing: link
Website - www.ultimusfundsolutions.com
The deal increases Apex’s AuA to $560 billion, after completing the onboarding process of Deutsche Bank’s Alternative Fund services business in June.
With over $24bn in AUA, Custom House provides fund administration services to more than 200 managers and 500 investment funds. The firm has offices in Beijing, Chicago, Dublin, Geneva, Hong Kong, Malta, Rotterdam, Shanghai, Shenzhen, Singapore, Sofia and Sydney.
Value - Not disclosed
Assets under Administration (AuA) - $560 billion
Press Release - Apex announces acquistion of Custom House: link
Press Coverage - Apex adds $24 billion of assets with Custom House acquisition: link
Website - www.apexfundservices.com
SS&C Technologies announced it has entered into a definitive agreement to acquire Eze Software from TPG Capital for $1.45B.
Boston-based Eze Software offers order management, execution management and portfolio accounting technology to 25000 buy and sell-side client in 45 countries. In 2017, the firm recorded total revenues of $280 million and Adjusted Ebitda of $105 million.
Value - $1.45 billion
Assets under Administration (AuA) - Over $1.4 trillion
Press Release - SS&C to Acquire Eze Software: link
Press Coverage - SS&C to Acquire Eze Software from TPG For $1.45 Billion: link
Website - www.ssctech.com
State Street is to acquire Charles River Development in an all cash transaction valued at $2.6 billion.
Charles River, a provider of order management systems for the investment industry, reported total revenues of more than $300 million in 2017. The company serves more than 300 clients across institutional, wealth, asset owner and alternative market segments, including 49 of the top 100 asset managers.
Value - $2.6 billion
Assets under Custody and Administration - $33.9 trillion in assets under custody and administration
Press Release - State Street to Acquire Charles River Development for $2.6 Billion: link
Press Coverage - State Street to acquire Charles River Development: link
Website - www.statestreet.com
SGG Group, a leading global investor services firm, has announced the acquisition of Augentius, a leading global provider of alternative investment solutions to the Private Equity and Real Estate communities.
Augentius, who employs over 650 professionals, offers a complete suite of fund administration, depositary, regulatory and compliance solutions to institutional investors across 13 jurisdictions including the UK, Guernsey, the US, Luxembourg, Singapore and Hong-Kong.
Value - Not disclosed
Assets under Administration (AuA) - Over $400 billion
Press Release - SGG Group acquires Augentius: link
Press Coverage - SGG Group acquires Augentius: link
Website - www.sgggroup.com
.Apex Fund Services agreed to acquire private equity fund administration services provider Ipes alongside Genstar Capital from European private equity firm Silverfleet Capital.
With the successful closing of this acquisition, Apex employee numbers will reach almost 2,000 and its total assets being serviced will increase to circa $535 billion propelling the Group to the fifth largest fund administrator globally.
Value - Not disclosed
Assets under Administration (AuA) - $535 billion
Press Release - Apex Announces Acquistion of Ipes: link
Press Coverage - Apex Fund Services continues acquisition spree with Ipes purchase: link
Website - www.apexfundservices.com
.Ultimus Fund Solutions has acquired Woodfield Fund Administration, a privately-owned private fund administration firm headquartered in Chicago, Illinois.
After the acquisition, the firm will serve over 140 clients with nearly 200 employees, and Ultimus’ assets under administration will grow to more than $75 billion. Ultimus, headquartered in Cincinnati, Ohio, will also maintain offices in Chicago, Illinois and Denver, Colorado, cities in which Woodfield currently operates.
Value - Not disclosed
Assets under Administration (AuA) - Over $75 billion
Press Release - Ultimus Fund Solutions acquires private fund servicing business: link
Press Coverage - Ultimus Fund Solutions acquires private fund servicing business: link
Website - www.ultimusfundsolutions.com
Centaur Fund Services will open a new office in Luxembourg after agreeing to acquire local fund-administration firm Luxembourg Capital Partners.
The alternative fund administration house said the acquisition, along with a planned expansion of Centaur's Luxembourg base, would support its strategy to build its service for private equity and real estate funds.
Value - Not disclosed
Assets under Administration (AuA) - n/a
Press Release - Centaur Establishes Luxembourg Office: link
Press Coverage - Centaur Fund Services buys Luxembourg admin: link
Website - www.centaurfs.com
SS&C Technologies Holdings announced it has entered into an agreement to acquire CACEIS North America, the fund administration business of CACEIS based in Toronto and New York.
CACEIS is known for its leading fund administration services and support for complex investment strategies. The acquisition will add 65 employees, servicing more than $15.8 billion in investment fund assets.
Value - Not disclosed
Assets under Administration (AuA) - Over $1.4 trillion
Press Release - SS&C to acquire North American Fund Administration Business from CACEIS, Crédit Agricole S.A.: link
Press Coverage - SS&C to buy Caceis North America: link
Website - www.ssctech.com
Ocorian, an independent provider of corporate, alternative investment and private client services - has completed the acquisition of MAS International (MAS), a Luxembourg and Mauritius based provider of fund administration and corporate services.
The acquisition represents a significant milestone in the development of Ocorian’s growing international portfolio of financial services, increasing its presence in Luxembourg to over 80 in-country experts
Value - Not disclosed
Assets under Administration (AuA) - $150 billion
Press Release - Ocorian Completes Acquisition of MAS International to Extend its Fund and Corporate Services in Luxembourg & Mauritius: link
Press Coverage - Ocorian extends funds and corporate services in Luxembourg and Mauritius with MAS acquisition: link
Website - www.ocorian.com
SS&C Technologies Holdings Inc said it will buy DST Systems Inc in a $5.4 billion deal, expanding its financial technology software prowess through its largest deal to date.
The deal is Windsor, Connecticut-based SS&C’s latest in its quest to build out its financial software expertise that serves banks and the investment industry. It also gets an entry into the healthcare information technology market.
Value - $5.4 billion
Assets under Administration (AuA) - Over $1.4 trillion
Press Release - SS&C to acquire DST Systems in 5.4 billion dollar deal: link
Press Coverage - SS&C boosts banking software heft with $5.4 billion DST deal: link
Website - www.ssctech.com
Apex Fund Services on Monday announced it will acquire the asset servicing business of investment bank M.M. Warburg & Co.
The transaction is the third for Apex in the space of six months following the acquisition of both Equinoxe Alternative Investment Services and Deutsche Bank’s Alternative Fund Services business in 2017.
Value - Not disclosed
Assets under Administration (AuA) - Over $300 billion
Press Release - Apex Announces Acquistion of M.M.Warburg & Co’s Asset Management and Servicing Business in Luxembourg: link
Press Coverage - Apex Fund Services to buy M.M. Warburg asset servicing business in latest acquisition: link
Website - www.apexfundservices.com
.SGG Group, a fund administrator, has acquired a Jersey-based fund services group to deepen its coverage of specialist client segments and geographies.
The combined entity has over 1,500 staff and covers 23 jurisdictions. SGG said Jersey, Guernsey, the Isle of Man, Switzerland and Cyprus were among its key markets.
Value - Not disclosed
Assets under Administration (AuA) - Over $250 billion
Press Release - SGG Group and First Names Group join forces: link
Press Coverage - SGG Group expands fund admin with Jersey acquisition: link
Website - www.sgggroup.com
The acquisition of CAS is in line with Link Group’s strategy to grow through further penetration of attractive markets and expand its product and regional capabilities and in particular extending the European operating platform.
Link Group is a provider of technology-enabled solutions in financial and corporate markets. The company is listed on the Australian Securities Exchange.
Value - £888 million GBP
Assets under Administration (AuA) - Over £600 billion
Press Release - Link Group to Acquire Capita Asset Services suppport by capital raising: link
Press Coverage - Link Group acquires Capita Asset Services: link
Website - www.linkgroup.com
.Apex Group Ltd. and Genstar Capital today jointly announced the acquisition of the Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) Alternative Fund Services (“AFS”) business.
The transaction will add $170 billion in AUA, propelling Apex to become the eighth largest administrator in the world and the largest independent administrator. Apex’s global reach and connected operating model opens up an additional 18 investment jurisdictions to AFS clients, with local expertise available through the Apex network of offices.
Value - Not disclosed
Assets under Administration (AuA) - Over $300 billion
Press Release - Apex Announces Acquisition of Deutsche Bank's Alternative Fund Services Business: link
Press Coverage - Apex Fund Services Announces Acquisition of Deutsche Bank's Alternative Fund Services Business: link
Website - www.apexfundservices.com
.SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced the acquisition of CommonWealth Fund Services Ltd. ("CommonWealth"), an award-winning Canadian fund administrator servicing over $8 billion in assets.
Acquisition of fast-growing Canadian fund administrator adds more than 100 fund relationships.
Value - Not disclosed
Assets under Administration (AuA) - Over $1 trillion
Press Release - SS&C Closes Acquisition of CommonWealth Fund Services: link
Press Coverage - SS&C Closes Acquisition of CommonWealth Fund Services: link
Website - www.ssctech.com
Sanne Group PLC (SNN.LN) said Friday it has agreed to acquire Luxembourg Investment Solutions SA and Compliance Partners SA for an initial payment of 55 million euros ($64.7 million).
Founded in 2011, the Companies employ more than 70 people, the majority of whom are based in Luxembourg and a small operation in Dublin. The business provides alternative asset and corporate focused administration services to more than 60 clients and administers in excess of 100+ fund structures.
Value - $64.7 million
Assets under Administration (AuA) - Over £160 billion (GBP)
Press Release - SANNE enters into agreement to acquire leading AIFM and open ended mutual fund (UCITS) provider in Luxembourg: link
Press Coverage - Sanne Group to Acquire Two Luxembourg-Based Companies for EUR55 Million: link
Website - www.sannegroup.com
Maitland acquired Guernsey-based Designated Manager, R&H Fund Services (Guernsey) Limited.
Founded in Luxembourg in 1976, Maitland provides multi-jurisdictional legal, tax, fiduciary, investment and fund administration services to private, corporate and institutional clients. The firm is privately owned and fully independent, administering funds for multiple investment managers and sponsors, and has more than $280 billion in assets under administration.
Value - Not disclosed
Assets under Administration (AuA) - $280 billion
Press Release - Maitland establishes presence in Guernsey as global growth ramps up: link
Press Coverage - Maitland acquires R&H Fund Services Guernsey (Institutional Asset Manager): link
Website - www.maitlandgroup.com
Leading global fiduciary and administration provider, Estera, has acquired the Heritage Financial Services Group (HFSG), an independent business providing third party fund administration, depositary, trust and corporate services in Guernsey, the UK and Malta..
Heritage employs around 100 people across three jurisdictions and the company is expected to be rebranded as Estera once the deal is finalised.
Value - not disclosed
Assets under Administration (AuA) - not disclosed
Press Release - Estera continues expansion plan with Heritage Financial Services acquisition: link
Press Coverage - Estera continues expansion plan with Heritage Financial Services acquisition: link
Website - www.estera.com
.Australian fund administrator Mainstream Group is acquiring Trinity Fund Administration in Ireland and the Cayman Islands. The total combined purchase price of the acquisition is US$5 million..
Privately owned Trinity currently provides administrative, transfer agency, company register, corporate secretarial, risk and regulatory reporting and other ancillary services to over 140 funds and investment vehicles incorporated in a variety of jurisdictions.
Value - $5m
Assets under Administration (AuA) - $119 billion
Press Release - Mainstream Group acquires Trinity Fund Administration in Dublin and the Cayman Islands: link
Press Coverage - Mainstream Group acquires Trinity Fund Administration in Dublin and Cayman Islands (Reuters): link
Website - www.mainstreamgroup.com
.In May 2017, Apex announced the acquisition of Equinoxe Alternative Investment Services along with new private equity backing from Genstar Capital (www.gencap.com).
Equinoxe is an alternative fund administrator firm with $24 billion of assets under administration. This recent acquisition increased Apex’s suite of middle office solutions and brought its assets under administration close to $80 billion.
Value - Not disclosed
Assets under Administration (AuA) - Close to $80 billion
Press Release - Apex Fund Services to Expand Leading Fund Administration Platform Through the Acquisition of Equinoxe Alternative Investment Services: link
Press Coverage - Private equity backing propels Apex into Equinoxe acquisition (Global Custodian): link
Website - www.apexfundservices.com
.Public Pension Capital (PPC) and FiveW Capital, together with Viteos management, have acquired Viteos Fund Services, a leading provider of middle- and back office technology and services for the investment management industry.
Viteos, founded in 2003, provides customized straight-through-processing and integrates post-trade operations for the investment management industry in the United States, Europe and Asia.
Value - Not disclosed
Assets under Administration (AuA) - $78.46 billion
Press Release - Public Pension Capital, FiveW buy Viteos Fund Services: link
Press Coverage - Private equity firms complete Viteos Fund Services acquisition (Global Custodian): link
Website - www.viteos.com
Fund administration specialist SS&C Technologies agreed to acquire San Francisco-based independent asset servicer Conifer Financial Services LLC in a deal valued at $88.5 million.
Conifer has 200 clients worldwide representing $110 billion of combined assets under administration. A statement written at the time stated that the acquisition would strengthen SS&C's market position on the West Coast and enable it to provide a wider array of services to a growing customer base in foundations and endowments, pensions, and outsourced CIO portfolios, the statement added.
Value - $88.5 million USD
Assets under Administration (AuA) - Over $1 trillion
Press Release - SS&C Agrees to Acquire Conifer Financial Services: link
Press Coverage - SS&C Technologies Agrees To Buy Conifer Financial Services For $88.5M (Finalternatives): link
Website - www.ssctech.com
SANNE, the specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services, announced that it has entered into an agreement to acquire FLSV Fund Administration Services LLC ("FAS") for a total consideration of $65.8 million (£50.7 million).
With 115 employees, FAS is a New York headquartered business offering fund administration and reporting services to alternative asset managers, primarily in North America.
Value - $65.8 million USD
Assets under Administration (AuA) - Over £160 billion (GBP)
Press Release - SANNE Group plc acquisition of FLSV Fund Administration Services: link
Press Coverage - Sanne Buys US-Based FLSV Fund Administration For GBP50.7 Million (Morning Star): link
Website - www.sannegroup.com
Fund administration specialist SS&C Technologies has agreed to acquire Wells Fargo Global Fund Services (GFS), the unit of global financial services company Wells Fargo that provides comprehensive administration, middle office, operations and cash/collateral management services to alternative investment managers.
As a result of the acquisition, SS&C will add more than 250 employees and 130 fund relationships in Hong Kong, London, New York, Minneapolis and Singapore.
Value - $77.05 million USD
Assets under Administration (AuA) - Over $1 trillion
Press Release - SS&C Completes Acquisition of Wells Fargo’s Global Fund Services Business: link
Press Coverage - Wells Fargo Agrees to Sell Fund Administration Business to SS&C (Bloomberg): link
Website - www.ssctech.com
MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, acquired Guggenheim Investment’s 1940-Act mutual fund administration business, Rydex Fund Services.
The acquisition added $52 billion to MUFG Investor Services’ assets under administration (AuA) bringing its total AuA to $422 billion.
Value - An estimated $190 million USD (See Nikkei Asian Review article below for details)
Assets under Administration (AuA) - $422 billion
Press Release - MUFG Investor Services to acquire Rydex Fund Services from Guggenheim Investments: link
Press Coverage - Mitsubishi UFJ Trust to buy US mutual fund administration company (Nikkei Asian Review): link
Website - www.mufg-investorservices.com
Intertrust bought rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra Partners LLP to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands.
Post acquisition, Elian will comprise circa 25 per cent of the combined group and will benefit from the long term stability that being part of a listed entity provides, as well as increased geographic scale and diversification in line with its long term strategic goals.
Value - £435 million GBP
Assets under Administration (AuA) - not disclosed
Press Release - Intertrust acquires Elian Group: link
Press Coverage - Electra sells Elian to Intertrust: link
Website - www.intertrustgroup.com
In December 2015, ALPS, a subsidiary of DST Systems, Inc. (NYSE: DST) providing products and services to the financial services industry, and Kaufman Rossin Fund Services, LLC ("KRFS"), an independent, full-service provider of specialized administration services to the global financial community, announced they have entered into an agreement for ALPS to acquire KRFS.
KRFS, founded in 1994, has about 125 workers and $26 million in annual revenue, according to a federal regulatory filing. (The accounting firm was established in 1962 and employs about 325 people.)
Value - $95 million USD
Assets under Administration (AuA) - $50 billion
Press Release - ALPS To Acquire Kaufman Rossin Fund Services: link
Press Coverage - Kaufman Rossin sells funds services business for $95 million (Miami Herald): link
Website - www.alpsinc.com
Hedge fund service provider SS&C Technologies has acquired Citigroup's Alternative Investor Services business, which includes hedge fund and private equity fund services, for $425 million.
SS&C took on more than 1,400 staff, 265 customers and about $395B in assets under administration. Citi's leaders at the time stayed on and operate as a business unit in SS&C GlobeOp.
Value - $425 million USD
Assets under Administration (AuA) - Over $1 trillion
Press Release - SS&C Acquires Citi’s Alternative Investor Services Business: link
Press Coverage - SS&C Acquires Citigroup 's Alternative Investor Services Unit (FINalternatives): link
Website - www.ssctech.com
MUFG Investor Services announced the acquisition of the Alternative Fund Services (AFS) business from UBS Global Asset Management.
The deal formed part of MUFG’s strategy to build a global industry-leading fund administrator. It reportedly more than doubled the company’s total assets under administration to $266bn across 2,300 funds.
Value - $244 million USD (estimated)
Assets under Administration (AuA) - $422 billion
Press Release - MUFG Investor Services to acquire UBS Global Asset Management’s Alternative Fund Services business: link
Press Coverage - MUFG acquires UBS AM’s Alternative Fund Services: link
Website - www.mufg-investorservices.com
SS&C Technologies agreed to buy Advent Software for about $2.3 billion in cash, uniting two big providers of software for the financial services industry.
Under the terms of the deal, SS&C will pay $44.25 a share, a 7 percent premium to Advent’s closing price on Monday. Including the assumption of debt, the transaction is valued at $2.7 billion.
Value - $2.7 billion USD
Assets under Administration (AuA) - Over $1 trillion
Press Release - SS&C Technologies to Acquire Advent Software: link
Press Coverage - SS&C to Buy Advent Software for $2.3 Billion: link
Website - www.ssctech.com
BNP Paribas Securities Services has agreed to buy the fund administration arm of Credit Suisse creating a business with combined alternative assets under administration (AuA) of $231 billion.
The move is part of BNP Paribas Securities Services’ strategy to develop its global fund administration franchise. It is understood that it onboarded all of the PFS (Prime Fund Services) staff based in Europe, Asia and the United States. The transaction was expected to close in the first half of 2015.
Value - Not disclosed
Assets under Administration (AuA) - $2,067 billion USD
Press Release - None found
Press Coverage - BNP Paribas acquires Credit Suisse's fund administration arm: link
Website - securities.bnpparibas.com
US Bancorp Fund Services acquired Quintillion, the Ireland-based fund administrator.
The terms of the deal were not disclosed but it is known that the transaction added $18 billion in hedge fund assets under administration (AuA) and 53 Dublin-based employees to US Bancorp Fund Services’ existing business with the combined company now supporting roughly $84 billion in hedge fund AuA.
Value - Not disclosed
Assets under Administration (AuA) - $941 billion USD
Press Release - U.S. Bancorp Fund Services, LLC Acquires Quintillion Limited: link
Press Coverage - US Bancorp Fund Services acquires Quintillion: link
Website - www.usbfs.com
Mitsubishi UFJ Trust and Banking Corporation (MUTB) has acquired fund administrator Butterfield Fulcrum.
Butterfield Fulcrum was created in 2008 from a merger between Butterfield Fund Services and Fulcrum Group. In 2011 Butterfield Fulcrum Group was acquired, along with wealth management reporting and administrative services provider FORS, by industry executives Glenn Henderson and Tim Calveley together with BV Investment Partners.
Value - Not disclosed
Assets under Administration (AuA) - $422 billion
Press Release - Butterfield Fulcrum Group to Be Acquired by Mitsubishi UFJ Trust and Banking Corporation: link
Press Coverage - Mitsubishi UFG Trust and Banking Acquires Butterfield Fulcrum: link
Website - www.mufg-investorservices.com
U.S. Bancorp Fund Services agreed to acquire AIS Fund Administration, including 176 employees in New Jersey, the United Kingdom and the Cayman Islands.
Adding AIS $25 billion in hedge fund assets under administration (AuA), it brought U.S. Bancorps total AuA to $50 billion in alternative assets, according to the bank. The administration business provides middle- and back-office services supporting alternative asset fund managers and investors.
Value - Not disclosed
Assets under Administration (AuA) - $941 billion USD
Press Release - U.S. Bancorp Fund Services Acquires AIS Fund Administration: link
Press Coverage - US Bancorp Agrees to Acquire AIS Fund Administration: link
Website - www.usbfs.com
State Street Corporation has agreed to acquire hedge fund administrator Goldman Sachs Administration Services (GSAS) from The Goldman Sachs Group, in a cash transaction with a total purchase price of USD550 million.
GSAS administered approximately USD200 billion in single manager hedge fund assets on behalf of approximately 150 investment manager clients from locations across the globe. GSAS employees, including client-facing staff and the management team, were expected to have joined State Street following the close of the transaction.
Value - $550 million USD
Assets under Administration and Custody (No seperate AuA figure available) - $29.83 trillion USD
Press Release - State Street to Acquire Goldman Sachs Administration Services: link
Press Coverage - State Street to acquire Goldman Sachs Administration Services: link
Website - www.statestreet.com
Sumitomo Mitsui Trust Bank (SMTB) and Daiwa Securities Group have executed an agreement that will see SMTB acquire the entire share capital of Daiwas custody and fund servicing subsidiaries in the UK and Europe.
On the 29 June 2012, SMTB signed a share purchase agreement with Daiwa for two entities, Daiwa Securities Trust & Banking (Europe) and Daiwa Securities Trust Europe. The entities collectively form its global asset servicing division, which includes Daiwa’s fund administration/ UCITS management company, its custodian, its trustee and its authorised corporate director entities domiciled in Dublin and London.
Value - $37.5 million USD
Assets under Administration (AuA) - $422 billion
Press Release - Sale of Daiwa Global Asset Services to Sumitomo Mitsui Trust Bank: link
Press Coverage - Daiwa sells global asset services arm to Sumitomo: link
Website - www.sumitrustgas.com
Financial services software specialist SS&C Technologies has officially acquired London-based GlobeOp Financial Services for approximately £572 million ($897 million)
GlobeOp provided independent fund services, specializing in middle- and back office services and integrated risk-reporting to hedge funds, asset management firms and other sectors of the financial industry.
Value - $897 million USD
Assets under Administration (AuA) - Over $1 trillion
Press Release - SS&C Acquires GlobeOp: link
Press Coverage - SS&C Closes Deal For GlobeOp: link
Website - www.ssctech.com
Wells Fargo & Company will buy hedge fund administrator LaCrosse Global Fund Services from Cargill for an undisclosed amount.
Once completed, the deal will allow Wells Fargo CTS to offer complete hedge fund administration services, including operational support, derivatives processing, bank debt processing and cash/collateral management.
Value - Not disclosed
Assets under Administration (AuA) - $20 Billion
Press Release - Wells Fargo to Acquire Fund Administration Provider, LaCrosse Global Fund Services: link
Press Coverage - Wells Fargo Acquires Hedge Fund Administrator LaCrosse: link
Website - www.wellsfargo.com
Northern Trust has acquired the Chicago-based fund administrator Omnium from Citadel founder Ken Griffin for $100 million.
Omnium currently administrated $70 billion in hedge funds assets. The firm’s staff were integrated into Northern Trust’s Corporate and Institutional Services business unit as Northern Trust Hedge Fund Services.
Value - $100 million USD
Assets under Administration and Custody (No seperate AuA figure available) - $9.3 trillion
Press Release - Northern Trust Completes Acquisition of Omnium from Citadel: link
Press Coverage - Everyone Thinks It's Really Weird That Citadel Just Sold Omnium (For $100 Million): link
Website - www.northerntrust.com/
Bank of Ireland Securities Services was the largest Irish-owned asset administrator. It serviced a broad range of fund, including mutual money-market, exchange-traded funds and property funds.
Under the terms of the all cash agreement, Northern Trust paid up to €60 million (approximately $82 million) to acquire BoISS. With this acquisition, Northern Trusts combined assets under custody and administration in Ireland increased by about 70 billion (approximately $96 billion).
Value - $82 million USD
Assets under Administration and Custody (No seperate AuA figure available) - $9.3 trillion
Press Release - Northern Trust to Acquire Bank of Ireland Securities Services: link
Press Coverage - Northern Trust Completes Bank of Ireland Securities Services Acquisition: link
Website - www.northerntrust.com
Bank of New York Mellon Corp. bought BHF Asset Serving GmbH for €253 million ($343 million) from European banks Sal. Oppenheim Jr. & Cie. SCA and BHF-Bank AG.
The BHF purchase created the second-largest asset servicing provider in Germany, the world's fourth-largest economy with €473 billion in assets under its supervision, BNY Mellon said in a statement. BHF employed 340 people and so its acquisition by BNY Mellon brought its total contingent in Germany, where it has been in business since 1931, to 560.
Value - $343 million USD
Assets under Administration and Custody (No seperate AuA figure available) - $31.1 trillion
Press Release - BNY Mellon agrees to acquire BHF Asset Servicing GmbH: link
Press Coverage - BNY Mellon Buys BHF Asset Servicing Arm For $343M: link
Website - www.bnymellon.com
BNY Mellon announced a definitive agreement to acquire PNC's Global Investment Servicing Inc. (GIS) business.
The purchase price of $2.31 billion included the purchase of $1.57 billion of stock and repayment of intercompany debt from PNC. BNY Mellon planed to raise between $700-$800 million in equity as part of the transaction.
Value - $2.31 billion USD
Assets under Administration and Custody (No seperate AuA figure available) - $31.1 trillion
Press Release - BNY Mellon to Acquire PNC’s Global Investment Servicing Business: link
Press Coverage - BNY Mellon to acquire PNC's global investment servicing business: link
Website - www.bnymellon.com
Caceis, a leading European institutional securities services provider, has signed an agreement to acquire fund administrator Olympia Capital International and its affiliates, which specialise in alternative investments.
Founded in 1990, privately-held Olympia Capital International has a staff of 230 professionals, offices in Bermuda, Dublin, Halifax, New York and Toronto, and administers around USD69bn in assets for funds domiciled in Bermuda, the Cayman Islands, the British Virgin Islands, Ireland and the US
Value - Not disclosed
Assets under Administration - $1.7 trillion USD
Press Release - Caceis to Acquire Olympia Capital International, an Independent Administrator of Alternative Investment Funds: link
Press Coverage - Caceis to acquire alternative fund administrator Olympia Capital International: link
Website - www.caceis.com
State Street Corp. said it would acquire Investors Financial Services Corp for $4.5 billion in stock, the latest takeover in the mutual and hedge fund servicing industry.
The purchase values Investors Financial at $65.01 a share which was a 38 percent premium to its price at the time. It marked State Street’s second acquisition this year, signaling that the institutional investment manager was acting quickly to re-position itself as the industry consolidates around it.
Value - $4.5 billion USD
Assets under Administration and Custody (No seperate AuA figure available) - $29.83 trillion USD
Press Release - State Street to Acquire Investors Financial Services Corporation: link
Press Coverage - State Street to Acquire Investors Financial for $4.5 Billion: link
Website - www.statestreet.com
Bank of New York and Mellon Financial of Pittsburgh agreed to merge in a $16.5 billion deal that will create a securities-processing powerhouse in a little-noticed corner of the financial world.
The combined entity is called Bank of New York Mellon and has an annual revenue of more than $12 billion.
Value - $16.5 billion USD
Assets under Administration and Custody (No seperate AuA figure available) - $31.1 trillion
Press Release - The Bank of New York Company, Inc. and Mellon Financial Corporation Agree to Merge: link
Press Coverage - Bank of New York to Buy Mellon for $16.5 Billion: link
Website - www.bnymellon.com
Get our Whitepaper "6 steps to Automating your Reconciliation workflow"
We examine the practical steps when switching from a manual to automated Reconciliation Process.
© Copyright 2017 FundRecs.com | Fund Recs is the trading name of Launch Pad Technologies Limited, a company registered and operated in Ireland | Company Number: 524304