J.P. Morgan has taken a stake in Arcesium, the U.S.-based investment management technology and professional services firm. The investment deepens Arcesium’s strategic partnership with J.P. Morgan, including its securities services business, which already uses Arcesium’s technology for some parts of its alternative fund servicing operation. Terms of the investment were not disclosed.
Category: M&A
FIS takes majority stake in Virtus
FIS, the U.S.-based technology firm, has acquired a majority stake in the specialist alternatives fund solutions provider, Virtus Partners. Virtus focuses exclusively on managers in the credit space. Terms were not disclosed.
RBC Investor Services to exit Australia, signs MoU with Citi
Citi has signed a memorandum of understanding with RBC in Australia that gives Citi the right to negotiate with RBC’s clients following the Canadian bank’s decision to withdraw from the investor services business in the country. RBC has been in Australia since 2001, when it acquired Perpetual Fund Services, and as recently as this year…
U.S. Bancorp to sell Quasar Distributors to Foreside
Foreside Financial Group, LLC, the U.S.-based provider of regulatory and compliance service and technology offerings to clients in the global asset and wealth management industry, intends to acquire U.S. Bancorp’s mutual fund and exchange-traded funds distribution business, Quasar Distributors. The transaction is expected to close in the first quarter of 2020. The acquisition will also…
CSC to acquire TCS-Groep in the Netherlands
CSC, a U.S.-based provider of corporate services, has signed a definitive agreement to acquire TCS-Groep, a Netherlands-based administrator for alternative investment funds. TCS, which has 26 staff, offers fund administration and depositary services for alternative asset managers with a focus on real estate, private equity, private debt, and social impact funds, with AuA of EUR6.5bn…
Citco takes stake, expands relationship with Solovis
Citco has expanded its partnership with Solovis, the multi-asset class portfolio management, analytics and reporting platform for asset owners and allocators. The partnership with Solovis covers business, technology and services and includes an equity investment in Solovis. Citco says this will enhance the performance reporting and analytics services provided by its recently launched institutional services…
BNP Paribas takes stake in Allfunds
BNP Paribas and Allfunds have entered into an agreement to create a global fund distribution and wealth technology platform. The transaction, which will see BNP Paribas Securities Services and BNP Paribas Asset Management receive together a stake of 22.5pct in Allfunds, is subject to regulatory approvals and required consultations. It is expected to close before…
MUFG to buy hedge fund and PEq assets from Maitland
MUFG Investor Services has agreed to acquire parts of the fund administration business of Maitland, an advisory, administration and family office firm. Maitland personnel will join MUFG Investor Services offices in the Cayman Islands, Halifax, and Dublin. When completed, the acquisition will add approximately USD20bn AuA, bringing the total AuA to over USD600bn. The assets…
Opus acquires fund admin unit of Advanced Fund Administration
Opus Fund Services, the U.S.-based independent administrator, has acquired the fund administration unit of Advanced Fund Administration, which has offices in the Cayman Islands and New Jersey. Before this deal, AFA provided multiple lines of business to its hedge fund clients, consisting of legal, advisory and compliance services. AFA’s fund administration clients are now scheduled…
Link sells South African registry business to JSE
Link Group, the Australia-based administrator, has agreed to sell its 74.85pct holding in Link Market Services South Africa to JSE Limited. Link Group will receive proceeds of R224.5m. Link Group entered the South African registry market in 2006. JSE is Africa’s largest multi-asset class stock exchange.