Morgan Stanley has been selected by BlackRock to serve as one of its primary clearing brokers for over-the-counter (OTC) derivatives transactions. Morgan Stanley acted as BlackRock’s clearing broker for its first live production transactions. “We believe that OTC clearing can
SS&C Technologies has acquired Prime Management Limited, a fund administrator and a service provider to investment structures, sponsors and managers in the insurance linked securities market. Prime currently services 25 managers with USD6bn in assets under administration (AUA) from its
Milbank, Tweed, Hadley & McCloy represented affiliates of KKR Asset Management (KAM) in connection with the USD300m upsize of the existing KKR Financial CLO 2011-1 secured financing. This permitted the CLO issuer to borrow up to an incremental USD225m to
Five major financial institutions have taken a minority stake in Chi-X Global Holdings LLC, the holding company for Chi-X market operators Chi-X Canada, Chi-X Japan and Chi-X Australia, which will launch on 31 October, 2011. It also jointly operates Chi-East,
JTC Group, an independent provider of private client, fund and corporate services, has acquired a substantial book of private client business from Herald Trust Company Limited, which is no longer part of the Herald Group. In addition to purchasing the
New York Life Investments is to acquire full ownership of Dexia Asset Management – an international asset manager with approximately USD100bn in assets under management – for EUR380m. With management centres in Brussels, Paris, Luxembourg and Sydney, Dexia offers global
Integrated Asset Management is to sell its wholly-owned subsidiary, BluMont Capital, to Arrow Capital Management. The closing of the transaction is subject to, among other things, receipt of all necessary approvals of applicable securities regulatory authorities. Pending approvals, the
Private equity fund Estancia Capital Partners has acquired a minority interest in Equinoxe Alternative Investment Services, joining XL Group as a strategic investor in the firm. Terms of the transaction were not disclosed. Equinoxe is a boutique full-service
Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in CorpAcq plc, a South Manchester-based company committed to the acquisition and investment in strong asset backed, profitable and cash generative owner-managed enterprises. Headquartered in Altrincham and
Confluence, a provider of data management solutions, has acquired Data Agent, a provider of alternative investment industry data management and reporting solutions. Already a provider of Form PF and Form CPO-PQR reporting solutions, Data Agent brings the experience and
