JPMorgan is to acquire Tranaut Fund Administration Ltd., the privately-owned hedge fund administration services company, before the end of the year.
JPMorgan is to acquire Tranaut Fund Administration Ltd., the privately-owned hedge fund administration services company, before the end of the year. The acquisition of a hedge fund administration services company is a strategically significant addition to JPMorgan’s comprehensive suite of services that are already offered to hedge funds and institutional investors. Conrad Kozak, Head of Strategic Business Development, Treasury & Security Services at JPMorgan, said: “This acquisition represents a logical extension to the firm’s servicing capabilities and demonstrates our commitment to servicing all types of investment products, regardless of structure, on a global basis.” Tranaut was formed in 1999 by hedge fund administration experts with a combined experience of over 40 years. Tranaut has offices in Ireland, Bermuda and Boston, MA. JPMorgan Chase is a leading global financial services firm with assets of USD 801 billion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, investment management, private banking and private equity.
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Stuart Drake, Director of Tranaut Fund Administration, Ltd: “We are excited to be working with JPMorgan and we are confident in the firm’s commitment to the hedge fund market and its clients.”
