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Alternative Market Briefing

Acquisition of Mourant means State Street will pass Citco in alternative AuA, with an 11% market share

Friday, December 04, 2009

From the Opalesque team:

On December 1st State Street announced the planned acquisition of Mourant, set to take place in the first quarter of 2010. The deal would put State Street ahead of Citco in total alternative assets under administration with an 11.9% global market share. State Street has yet to put a price tag on their all cash takeover, but New York-based research firm, Carbon360, publisher of the Fund Administration Fact Book, put the valuation of the deal at $520m.

"With 96% of Mourant's assets under administration being private equity, this move puts State Street well ahead of its comp......................

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