MUFS’s parent company Mitsubishi UFJ Financial Group (MUFG), will now service over 100 funds and 300 clients, increasing their assets under administration to $165bn from $151bn.
The group, which is headquartered in Bermuda, say the deal is part of a wider growth strategy. It aims to build MUFS into a leader in the global investment services industry both organically and through acquisitions.
MUFS provide fund administration and investor services to hedge funds, fund of funds, private equity and real estate funds, mutual funds and family offices.
Deputy chief executive office, MUFS, Tim Calveley said: “The acquisition is a clear indication of our strategy and commitment to growing as a premier fund administrator servicing the global investment industry.”
Tom Davis, chairman of New York-based Meridian Holdings (Meridian Group’s holding company), said: “We’re confident our clients will experience a smooth transition and will benefit from the strength and resources of MUFG, giving access to a range of additional services such as custody, securities lending and other banking services.”
