J.P. Morgan To Acquire Private Equity Administration Services Business Of Schroders

J.P. Morgan Worldwide Securities Services (WSS) has signed an agreement to acquire the private equity administration services business of Schroders PLC, subject to regulatory approval. Based in Guernsey and Bermuda, the private equity administration services business currently has $6.2 billion in committed capital under administration. "This acquisition emphasizes our commitment to continuing to build out our industry-leading private equity administration offering," said Conrad Kozak, CEO of J.P. Morgan Worldwide Securities Services. "It allows us to expand the global footprint of our private equity administration business, while at the same time allowing us to further deepen our relationship with Schroders."

Schroders' private equity administration business was initially developed to support "Schroder Ventures," an in-house private equity business that is no longer part of the Schroders Group, and later expanded into third-party administration.

Markus Ruetimann, group COO at Schroders said: "We believe that J.P Morgan will be able to realize the full growth potential of the private equity administration business through the combination of our operations and WSS. J.P. Morgan is one of our most trusted fund service partners and we believe that this transaction will ensure the continued delivery of a high standard of service to our private equity administration clients."

"We believe there is strong synergy between our two businesses," said James Hutter, global business executive for J.P. Morgan's private equity fund services division. "We share a common origin being among only a few administrators that grew out of private equity firms, our product offerings and technology are very complementary, and we both are known for having a strong service culture."

J.P. Morgan provides private equity administration services to more than 100 clients with $225 billion in alternative assets. It has offices in New York, London, Luxembourg, Jersey, Sydney, Chicago, Dallas and San Francisco.

J.P. Morgan's private equity fund services group offers outsourced accounting and administration services to both institutional Limited Partners and General Partners. The group services closed-end fund structures of all strategies, including: buy-out, growth, venture, mezzanine, infrastructure, debt, real estate and fund of funds. J.P. Morgan also offers a full suite of cash management and foreign exchange services in addition to fund and portfolio administration.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio