Grand Cayman, Cayman Islands (1 September 2014): Maples Fund Services is acquiring the Hong Kong and Singapore operations of Vistra Fund Services ("Vistra FS"). The acquisition further expands the presence of Maples Fund Services in Asia and enhances its position as a market leader in fund administration.
Since its establishment in 2005, the growth of Maples Fund Services has been organic. This is the firm's first acquisition, which demonstrates its long-term commitment to fund administration. The strategy of organic growth combined with future strategic acquisitions is expected to continue to further evolve Maples Fund Services, which currently has US$47.5 billion in assets under administration, as a leader in the fund services space.
The Maples Fund Services team in Asia presents a unique and compelling proposition to investment managers and investors who want experience and independence along with superior solutions, technology and client servicing from their administrator. Vistra FS' Asian fund services business is complimentary to Maples Fund Services existing Asia business. The focus of Maples Fund Services is alternative fund managers in Hong Kong, Singapore, Japan and the Greater China region wishing to set up hedge or private equity funds to be serviced by an independent provider offering a tailored, personalised service. Since establishing its Hong Kong office in 2012 and its Singapore office in 2013, Vistra FS experienced significant growth despite facing heavy competition in a mature market. It built up a strong business in Asia with sizeable assets under administration and mandates.
Maples Fund Services will look to retain all of the Hong Kong and Singapore-based Vistra FS employees with the aim of fully integrating them into the existing Maples Fund Services Hong Kong and Singapore-based teams. The Vistra FS team, which includes both client servicing and business development disciplines, has significant experience across Asia, deep local market expertise and language skills aligned to the region. Subsequent to the acquisition, the senior management team from Vistra FS will maintain leadership roles, which when paired with the existing senior management team at Maples Fund Services, position the firm uniquely in the market.