MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, has agreed to acquire UBS Global Asset Management’s alternative fund services business. No financial terms were disclosed for the transaction that is expected to close in the fourth quarter of this year.
New York, June 18 – MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, has reached an agreement with UBS Global Asset Management to acquire its Alternative Fund Services (AFS) business.
“This transaction is part of our strategy to build MUFG Investor Services into an industry-leading administrator, both organically and through acquisitions,” said Junichi Okamoto, Group Head of Integrated Trust Assets Business Group, Deputy President, Mitsubishi UFJ Trust and Banking Corporation.
“AFS’ strong client franchise, global footprint, and notably its strong presence in Asia, are an excellent strategic fit,” he continued. “We are confident that our clients will benefit from the depth of combined resources and capabilities and from our commitment to innovation coupled with AFS’ market-leading technology platform. We welcome AFS to our growing business and look forward to continuing to provide our clients with best-in-class service.”
Ulrich Koerner, President of UBS Global Asset Management, said: “We have a sharp focus on executing our strategy, with a clear goal of delivering best-in-class investment management capabilities to our clients. With this in mind, and in light of the increasing drive towards scale in fund administration, we concluded that the future development of AFS in servicing its clients would be best ensured as part of an organization with a strategic focus on asset servicing.”
“MUFG’s commitment to invest in the client franchise and the people, together with their strong focus on ensuring a seamless transition, were important factors in our decision-making,” Koerner added.
The transaction is expected to close in fourth quarter 2015, subject to regulatory approvals and customary closing conditions.
About MUFG Investor Services
MUFG Investor Services provides asset servicing solutions to clients globally. Leveraging the financial and intellectual capital of MUFG – the fifth largest bank in the world with more than $2.5 trillion in assets – we provide clients access to a range of leading solutions from fund administration, custody, foreign exchange, trustee services, and depository to securities lending and other banking services. MUFG has 90 years of custody experience and 350 years of banking history and has run a global securities lending program for 20 years. MUFG currently provides administration services for more than 1,100 funds.
MUFG Investor Services is a service brand name. Please refer to the office locations page for details on contracting entities. All entities listed are a wholly owned member of MUFG, a global financial group.
About UBS Global Asset Management
UBS Global Asset Management is a large-scale asset manager with well diversified businesses across regions and client segments. It serves third-party institutional and wholesale clients, as well as clients of UBS’s wealth management businesses with a broad range of investment capabilities and styles across all major traditional and alternative asset classes. With invested assets of CHF 661 billion and offices in 24 countries, Global Asset Management is a leading fund house in Europe, the largest mutual fund manager in Switzerland and one of the largest fund of hedge funds and real estate investment managers in the world.
About UBS Global Asset Management’s Alternative Fund Services business
UBS Global Asset Management’s Alternative Fund Services business is a global fund administrator providing professional services for hedge funds, fund of hedge funds, private equity and real estate structures. AFS teams are based in Canada, Cayman, Hong Kong, Ireland, Jersey, Singapore, UK and US.