Australian fund administrator MainstreamBPO has agreed to purchase Trinity Fund Administration in Ireland and the Cayman Islands, increasing its assets under administration by $7 billion.
Trinity, a privately owned administrator, also provides transfer agency, company register, corporate secretarial, risk and regulatory reporting and other ancillary services to over 140 funds and investment vehicles.
The acquisition of Trinity will allow MainstreamBPO to enter into key European fund product markets including the ability to service regulated UCITS and non-UCITS products. The acquisition is expected to be completed by July this year.
“The addition of Trinity’s group of companies to MainstreamBPO means we now have an established footprint in two more leading fund domiciles – the US$2.2 trillion Irish funds market and US$5.7 trillion Cayman fund market – to support our global cross-border client strategy,” said Martin Smith, CEO, MainstreamBPO.
MainstreamBPO currently provides administration services to 631 funds with assets in excess of $114 billion.