Global advisory and fund administration firm Maitland has concluded an agreement with STANLIB, one of Africa’s largest fund managers, to “lift out” its traditional institutional fund administration operations.
The deal, effective 1 October 2015, will boost Maitland’s own AUA by $40bn to $260bn, making it one of the world’s largest fund administrators. It comes during a period of rapid global growth for the firm, following the firm’s recent acquisition of UK fund administrator Phoenix Fund Services.