Thu, Sep 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Butterfield Fulcrum Group to be acquired by Mitsubishi UFJ Trust and Banking Corporation

Thursday, June 20, 2013
Opalesque Industry Update: Butterfield Fulcrum, an industry leading alternative fund administrator, has announced that it has agreed to be acquired by Mitsubishi UFJ Trust and Banking Corporation. Established in 1927, MUTB is a wholly owned subsidiary of Mitsubishi UFJ Financial Group, the 5th largest global bank holding company ranked by assets.

“We are delighted and honored to become part of the MUFG family of financial companies,” said Glenn Henderson, CEO of Butterfield Fulcrum Group. “This acquisition will reinforce our ability to deliver the highest quality fund services to our clients, while significantly increasing our breadth of products and services, our geographic reach and our financial strength."

Butterfield Fulcrum will become the global alternative asset administration platform of MUTB. The senior management team, as well as all management and staff in all Butterfield Fulcrum offices will remain with the company.

“Backed by the strength of MUFG, we expect to add numerous additional client services in the near future, including banking, custody, trust, foreign exchange and securities lending. We will be leveraging MUFG’s global brand and presence along with Butterfield Fulcrum’s industry leading technology and talent to expand into new geographies and client opportunities. Importantly, for existing clients, it is business as usual. Our valued clients will have the same client team, same technology and the same high quality of service they expect and deserve. That is our highest priority”, said Tim Calveley, Deputy CEO of Butterfield Fulcrum.

Financial terms of the acquisition were not disclosed. The transaction is subject to normal regulatory approvals. Evercore Partners served as exclusive financial advisor on the transaction and Ropes & Gray provided legal counsel.

Mitsubishi UFJ Financial Group, Inc.

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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc