Butterfield Fulcrum Group to Be Acquired by Mitsubishi UFJ Trust and Banking
HAMILTON, Bermuda -- June 20, 2013
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
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
5^th largest bank holding company.
Blair Henderson, 441-278-3639
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