Mon, Jan 26, 2015
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. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  2. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r