Maitland acquires Phoenix
Global fund administration services supplier Maitland Group has wholly acquired Phoenix Fund Services, marking its entry into the UK market.
The acquisition is intended to create a business that offers outsourced fund administration services to European funds across private equity, VCTs, real estate and hedge funds, among others.
The deal will increase Maitland's assets under management by more than £6bn to around the £140bn mark.
Phoenix specialises in fund set-up, administration and fiduciary oversight services, in addition to its alternative investment fund management activity.
The transaction is subject to regulatory approval.
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