HAMILTON, Bermuda--(BUSINESS WIRE)--Butterfield Fulcrum, an industry leading alternative fund administrator, is pleased to announce it has agreed to be acquired by Mitsubishi UFJ Trust and Banking Corporation (‘MUTB’). Established in 1927, MUTB is a wholly owned subsidiary of Mitsubishi UFJ Financial Group (‘MUFG’), 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.
About Butterfield Fulcrum
Butterfield Fulcrum (www.bfgl.com) is a leading independent services provider with 25 years of experience servicing clients in the alternative asset investment industry. Butterfield Fulcrum provides a full service fund administration offering including front, middle and back office solutions to hedge funds, fund of funds, managed accounts, family offices, private equity and real estate funds. The company services more than $100Bn of client assets across 850 funds and has seven offices in six countries and employs over 325 people.
About Mitsubishi UFJ Financial Group, Inc.
Mitsubishi UFJ Financial Group, Inc. (www.mufg.jp/english/) is a Japanese bank holding and financial services company headquartered in Tokyo, Japan. It holds assets of approximately US$2.6 trillion and is one of the main companies of the Mitsubishi Group. It is Japan's largest financial group and the world's 5th largest bank holding company.