Sat, Mar 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

US Bancorp Fund Services acquires AIS Fund Administration

Tuesday, November 13, 2012
Opalesque Industry Update: U.S. Bancorp Fund Services, LLC, a subsidiary of U.S. Bancorp, announced it has agreed to acquire AIS Fund Administration, a leading provider of fund administration and related services to alternative investment managers.

The transaction adds approximately $25 billion in hedge fund assets under administration to U.S. Bancorp Fund Services’ existing alternative investments business, along with 176 employees in New Jersey, the United Kingdom and the Cayman Islands. With this transaction, USBFS will service $50 billion in alternative investment assets and create a best-of-breed middle-office and back-office services platform to provide a wide range of support services to fund managers and investors across the alternative asset spectrum.

Terrance Dolan, vice chairman, U.S. Bank Wealth Management & Securities Services, said, “This acquisition is another key step in U.S. Bank’s strategic growth of our securities services business. This enables us to expand our fund servicing capabilities and complements our focus on corporate trust services.”

"This is an important acquisition for U.S. Bancorp Fund Services as it demonstrates our long term commitment to becoming an alternative investment services leader," said Joe Redwine, president, U.S. Bancorp Fund Services. "We are pleased that the AIS organization will become part of our team and continue the tradition of innovation and superior service that both organizations are known for in the industry."

"We are excited to become a part of the U.S. Bancorp team, an organization that shares AIS' mission, values and approach to customer service," said Boris Tiomkin, CEO of AIS Fund Administration. "We believe the addition of U.S. Bancorp's highly regarded suite of services, such as custody, trust, and other banking services, will provide significant benefits to our clients."

Current clients of both organizations will continue to work with the same teams, while also benefiting from an enhanced suite of operational capabilities and services to help meet their business objectives. The transaction is subject to regulatory approval.

US Bancorp

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He