MUFG Investor Services snaps up fund admin business
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MUFG Investor Services snaps up fund admin business 04 February 2016New York Reporter: Stephanie Palmer
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MUFG Investor Services has agreed to acquire Capital Analytics, the private equity fund administration business of investment manager Neuberger Berman.
The deal will bring MUFJ Investor Services’s private equity and real estate assets under administration to $145 billion, and its total assets under administration to $384 billion.
The acquisition includes the entirety of the Capital Analytics business, however no funds or investment professional will transfer, and Neuberger Berman funds will still receive administrative services from Capital Analytics.
MUFG Investor Services intends to provide as smooth a transition as possible for both transferring employees and Capital Analytics clients.
Junichi Okamoto, deputy president and group head of the integrated trust assets business group at the Mitsubishi UFJ Trust and Banking Corporation, said: “This transaction represents the next step in our strategy to support MUFG Investor Services’s position as an industry-leading administrator.”
“Incorporating Capital Analytics’s capabilities will enhance MUFG Investor Services’s proposition and will enable us to continue to provide a full market offering for both new and existing clients, whilst maintaining the highest quality of service. We welcome Capital Analytics to our growing business.”
John Sergides, managing director and global head of business development and marketing at MUFG Investor Services, said: “This acquisition will add 150 staff with specialist private equity and real estate expertise, enhancing MUFG Investor Services’s comprehensive offering in the alternative investment space and ensuring that we are the ideal partner to support clients of all sizes and complexities, as they maximise the growth opportunities that arise for their business.”
Anthony Tutrone, global head of alternatives at Neuberger Berman, added: “We believe the new ownership will create greater opportunities for Capital Analytics, given trends in the fund administration industry, while allowing them to continue providing the best-in-class services that we and our clients have come to rely upon.”
“We are confident that MUFG Investor Services, with its commitment to investing in the franchise and people, is the right steward to take Capital Analytics through to the next stage in its evolution and we look forward to continuing our close partnership.”
Terms of the acquisition have not been disclosed, and the transaction is expected to close in Q2 2016, subject to regulatory approvals and customary closing conditions.
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