Mitsubishi UFJ Trust and Banking (MUTB) has agreed to acquire 100% of the issued shares of Neuberger Berman Group’s overseas fund management company, Capital Analytics II (CA).
CA, which has nearly JPY14 trillion in assets under administration and 150 staff, provides fund administration services for private equity funds.
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This acquisition will boost MUFG Investor Services’ private equity and real estate assets under administration (AUA) to $145bn and total AUA to $384bn.
As part of the agreement, Neuberger Berman funds will continue to receive administrative services from Capital Analytics. This deal will not include the transfer of any funds or investment professionals.
Subject to regulatory approvals and customary closing conditions, the acquisition is scheduled to complete in second quarter of 2016. Financial terms of the transaction have not been disclosed.
The transaction is part of MUTB’s strategy of acquiring overseas fund management companies to develop the global fund administration business undertaken by MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group.
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By GlobalDataThe deal will allow MUTB to meet the global fund administration needs of its customers in Japan and overseas by leveraging CA’s operational expertise and the MUFG network.
Mitsubishi UFJ Trust group head of integrated trust assets business group and deputy president Junichi Okamoto said: "Incorporating Capital Analytics’ capabilities will enhance MUFG Investor Services’ 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."
MUFG Investor Services managing director, global head, business development and marketing John Sergides said: "This acquisition will add 150 staff with specialist private equity and real estate expertise, enhancing MUFG Investor Services’ 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 maximize the growth opportunities that arise for their business."
