Neuberger Berman is selling its private equity fund administration business Capital Analytics to MUFG Investor Services, the asset management unit of Mitsubishi UFJ Financial Group, for an undisclosed amount.
As part of the deal, Tokyo-headquartered MUFG, which has offices in New York, will acquire all of Capital Analytics’ business, including its 150 employees. The transaction is expected to close by spring, according to a statement from MUFG.
Post-acquisition, Capital Analytics will continue to provide fund administration services for the same funds it administered for Neuberger Berman when it was part of the group, a MUFG spokesperson told pfm.
Capital Analytics, headquartered in Texas, writes reports for investors on behalf of investment funds and calculates asset values. The fund administrator has a total of $29.5 billion in LP commitments and its private equity fund database contains more than 700 funds and more than 14,000 portfolio companies.
The acquisition will add around $120 billion in assets under administration to MUFG Investor Services, bringing its total assets under administration to $384 billion.
The acquisition is part of Mitsubishi’s overall strategy of acquiring overseas fund management companies, Mitsubishi UFJ Trust and Banking Corporation said in a statement.
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