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Mitsubishi UFJ Fund Services Buys Bermuda Fund Administrator
Mitsubishi UFJ Fund Services has acquired a fund administration firm based in Bermuda.
Mitsubishi
UFJ Fund Services, the global asset administrator and part of
the Tokyo-headquartered group, has announced the acquisition of
Bermuda's Meridian Fund Services Group, a fund administrator with
$14 billion in assets under administration.
Part of Mitsubishi UFJ Financial Group, Mitsubishi UFJ Fund
Services offers a range of fund administration and investor
services to hedge funds, funds of funds, private equity and real
estate funds, and mutual funds and family offices.
The acquisition of Meridian raises MUFG’s fund services AuA to
approximately $165 billion, servicing over 300 clients and 1,000
funds.
"The deal is part of a wider growth strategy to build Mitsubishi
UFJ Fund Services into a leader in the global investment services
industry, both organically and through acquisitions," the firm
said.
The transaction is subject to regulatory approvals.
