Wed, Jul 29, 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. Bridgewater turns bearish on China[more]

    Komfie Manalo, Opalesque Asia: The world’s biggest hedge fund Bridgewater Associates and one of the most vocal of China’s potential is now turning its back against the world’s second largest economy as it joins a growing list of high-profile investors who are challenging China’s potentials.

  2. Launches - Ex-Brevan Howard star Rokos builds team for new fund, Former Och-Ziff manager’s firm starts health care hedge fund, Industry veterans launch commodity investment firm Aron Capital Management, Nikko Asset Management launches two UCITS funds, Capital Group plans to debut Asian investor targeted fund[more]

    Ex-Brevan Howard star Rokos builds team for new fund From WSJ.com: Chris Rokos, a former star trader at Brevan Howard Asset Management LLP, has hired an economist from Nomura to join the team he’s assembling for his much anticipated hedge fund launch. Mr. Rokos, whose firm is due to b

  3. Institutions - Pension fund dismisses Texas consultant, Rhode Island pension fund gets 2.2% investment return, far below assumed rate of 7.5%, New Jersey pension investments see a drop-off in returns[more]

    Pension fund dismisses Texas consultant From Sandiegouniontribute.com: The county retirement board on Thursday terminated the Texas consultant who was given the reins of the $10 billion pension fund, and whose investment picks left many employees and retirees feeling taken for a ride.

  4. SWFs - Sovereign wealth funds paid around $14 billion in fees[more]

    From SWFinstitute.org: When it comes to the financial sector, asset management is one of the most profitable industries in the world. The Boston Consulting Group put out a 2014 figure saying there is US$ 74 trillion worth of professionally-managed assets. One of the fastest growing institutional inv

  5. Investing - Carlyle teams with TCW in push for ordinary investors[more]

    From Bloomberg.com: Carlyle Group LP isn’t backing down from its goal of offering alternative strategies to the masses, despite early setbacks. The Washington-based firm is teaming up with TCW Group, which is majority owned by Carlyle funds, to offer three vehicles that give ordinary investors acces

 

banner