Mitsubishi UFJ Financial Group Inc.'s global asset servicing arm, MUFG Investor Services, agreed to acquire select divisions of the fund administration business of Maitland International Holdings PLC.
The deal will add about US$20 billion in assets under administration to MUFG Investor Services, bringing its total assets under administration to more than US$600 billion. The assets consist of hedge funds and private equity funds.
The financial terms of the deal were not disclosed.
The transaction, which is subject to regulatory approvals and closing conditions, is expected to be completed in 2020.
