Global asset administrator, Mitsubishi UFJ Fund Services has completed the acquisition of Bermuda-based fund administrator, Meridian Fund Services Group, for an undisclosed amount.
The acquisition, which forms part of Mitsubishi UFJ Financial Group (MUFG) subsidiary’s ongoing growth strategy, raises its fund services assets under administration (AuA) to $165bn, servicing more than 300 clients and 1000 funds worldwide.
Mitsubishi UFJ Fund Services deputy CEO Tim Calveley said Meridian is an important addition to the company’s business as it continues to expand, both organically and through acquisitions.
"We will continue to develop the range of services we offer to the global investment industry and, with the backing of the fifth largest bank in the world by assets, are perfectly placed to offer the complex solutions that clients require in a challenging regulatory landscape," Calveley added.
Headquartered in Chiyoda, Tokyo, Japan, Mitsubishi UFJ Fund Services offers a range of fund administration and investor services to hedge funds, fund of funds, private equity and real estate funds, as well as mutual funds and family offices.