GEORGE TOWN, Cayman Islands and
LONDON, November 8, 2012 /PRNewswire/ --
Maitland, a global provider of
fund administration, multi-jurisdictional legal, tax, fiduciary and
investment advisory services, has acquired Admiral
Administration.
(Logo:
http://photos.prnewswire.com/prnh/20121108/573632 )
Admiral is an award-winning global hedge fund administrator with
offices in the Cayman Islands;
Dublin, Ireland; Halifax, Nova Scotia; and Richmond, Virginia. It combines best of breed
technology including Advent Geneva, Advent Partner and Paladyne
with highly skilled and qualified staff to provide clients with a
comprehensive customised solution to meet the specific needs of the
alternative investments industry including hedge funds, private
equity funds, UCITs and other regulated funds. At the recent HFM
awards in New York, Admiral was a
finalist for Best Technology for an Administrator among other
industry leaders such as SS&C GlobeOp, Citi, State Street, and
Citco. Admiral was also voted Best Offshore Administrator by
Hedgeweek in 2011.
With over 35 years international administration experience,
Maitland is today recognised as
one of the fastest-growing fund administrators in the world. The
acquisition of Admiral supports Maitland's strategy of targeted growth,
expanded global reach and leadership in the fund administration
industry. The combined group will have total assets of US$145 billion under administration, 700
employees and 15 offices across 13 countries including: BVI,
Cayman, Canada, Ireland, Switzerland, Isle of
Man, London, Luxembourg, Malta, Mauritius, Monaco, South
Africa and the United
States.
Maitland CEO, Steve Georgala,
said: "Admiral is a premier specialist provider of hedge fund
administration services and represents a strong franchise with
industry leading technology. The deal offers strategically
attractive and financially compelling synergies. Admiral's hedge
fund services expertise and award winning technology will enhance
Maitland's fund services
capabilities. We are well positioned to expand our traditional
administration services into the jurisdictions where Admiral has a
presence."
Canover Watson, Managing Director of Admiral, who will remain
the global head of hedge fund administration for the group, said:
"The merger of platforms will result in a powerful combination of
Maitland's global institutional
presence and resources, and Admiral's world-class industry leading
technology and extensive hedge fund expertise. We aim to be a
global leader with the institutional infrastructure, size and
resources to assist our clients, whatever their size, location or
investment strategy, to meet the increasingly complex requirements
of their investors and regulators."
For further information on Maitland or Admiral, please visit
http://www.maitlandgroup.com or http://www.admiraladmin.com.